China Relaxes Processing Trade
[2009-01-19 10:56:30]
China has made the lists of limited and prohibited categories of processing trade shorter as part of the country's efforts to mitigate the negative impacts of the global financial crisis and maintain the steady growth of its foreign trade.
The adjustment is stated in a joint pronouncement by the Ministry of Commerce and the General Administration of Customs on Dec. 31, 2008.
Altogether 1,730 categories of 10-digit coded products are scrapped from the "limited" list. Those products, mainly involving textiles, plastics, wooden products and hardware, account for 77 percent of the limited category and value some 30 billion USD of processing exports.
Processing trade of 27 categories of 10-coded products is no longer prohibited, mainly covering copper, nickel and aluminum. They are worth about 1.5 billion USD of exports in processing trade and make 30 percent of the total value of the "prohibited" category.
By People's Daily Online
The adjustment is stated in a joint pronouncement by the Ministry of Commerce and the General Administration of Customs on Dec. 31, 2008.
Altogether 1,730 categories of 10-digit coded products are scrapped from the "limited" list. Those products, mainly involving textiles, plastics, wooden products and hardware, account for 77 percent of the limited category and value some 30 billion USD of processing exports.
Processing trade of 27 categories of 10-coded products is no longer prohibited, mainly covering copper, nickel and aluminum. They are worth about 1.5 billion USD of exports in processing trade and make 30 percent of the total value of the "prohibited" category.
By People's Daily Online
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