BIZCHINA> Previous Adjustments
Lower tax rebate for textile exports
(Xinhua)
Updated: 2007-04-13 11:42

Last year, customs sources said, China exported 143.99 billion U.S. dollars worth of garments and textiles, a growth of 25.2 percent, and imported 18.09 billion U.S. dollars worth, up 5.6 percent.

The United States filed a complaint with the World Trade Organization in February, alleging China was using export subsidies to help its companies, including those in the clothing sector, on world markets.

The U.S., the largest destination of China's textile and clothing exports, could impose a 27.5-percenttariffon Chinese clothing if negotiations on the issue failed to produce results.

Vice Commerce Minister Gao Hucheng said on Tuesday the government would decide on whether to readjust export rebates in accordance with market changes.

The country's trade surplus soared to 46.44 billion U.S. dollars in the first quarter, but plunged to 6.87 billion U.S. dollars in March, less than a third of the February figure.


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