zt China Textile Duties To Last Three Years

[jogger2]

Wall Street Journal. (Eastern edition). New York, N.Y.: Dec 29, 2004. pg. 1

SHANGHAI -- Export duties China plans on some of its textile products will be imposed for a duration of three years, the state- owned Shanghai Securities News reported, citing the General Administration of Customs.

The textile export duties will run from Jan. 1 until Dec. 31, 2007, the report said.

China said over the weekend it would impose export duties of between 20 fen and 50 fen -- about 2.4 cents to six cents -- per item on 148 textile products, giving an average duty of about 1.3%, the newspaper reported.

An official at the Ministry of Commerce told Dow Jones Newswires earlier this week that duties based on export value would also be announced soon.

China's imposition of duties on its textile exports, effectively raising their price, comes as a three-decade-old quota system that has governed the global garment trade ends Friday.