MOC of the P.R.C. Initiated Anti-dumping Investigation against EU's Fasteners
[2009-01-12]
On Dec. 29, 2008, MOC of the P.R.C. announced that it determined to initiate an anti-dumping investigation against carbon steel fasteners from EU.
Not long ago, European Committee determined to impose anti-dumping duties up to 87% against carbon steel fastener products from China. The determination will take effect after getting approval of EU's member states. If it comes into force, that means 1/3 of Chinese enterprises will be shut down, which will cause China to lose foreign exchange earnings of 400 million euros every year.
After the announcement of EU's voting results, Mr. Feng JInyao, President of China Fastener Industry Association said, they would seize the coming one month to appeal by several methods, including negotiation with EU through government and association, but the effect was not good. They tried to bring forward price limit and total quantity control, but EU didn't cooperate with.
"MOC of the P.R.C. made a quick response to this anti-dumping case. We exert pressures on EU through legal means. Also, this is an important action to protect China's national industry, which increases confidence of domestic enterprises" said Feng.
There are 47 Chinese fastener enterprises applying for this anti-dumping investigation, most of which are private-owned enterprises scattered in different areas. This anti-dumping case involves the most Chinese enterprises of all the China's anti-dumping cases against foreign countries since China's entry into the WTO in 2001.
According to Mr. Fu Donghui, the attorney for Chinese fastener enterprises, the main enterprises involved in this anti-dumping investigation are in Germany. Chinese party has already held some evidence. Since there is rapid increase in quantity of EU's fastener products with lower price, the sales price of Chinese carbon steel fastener products is seriously restrained. When it comes to how many anti-dumping duties will we impose against EU, it depends on the result of the investigation by Ministry of Commerce of the P.R.C.
Not long ago, European Committee determined to impose anti-dumping duties up to 87% against carbon steel fastener products from China. The determination will take effect after getting approval of EU's member states. If it comes into force, that means 1/3 of Chinese enterprises will be shut down, which will cause China to lose foreign exchange earnings of 400 million euros every year.
After the announcement of EU's voting results, Mr. Feng JInyao, President of China Fastener Industry Association said, they would seize the coming one month to appeal by several methods, including negotiation with EU through government and association, but the effect was not good. They tried to bring forward price limit and total quantity control, but EU didn't cooperate with.
"MOC of the P.R.C. made a quick response to this anti-dumping case. We exert pressures on EU through legal means. Also, this is an important action to protect China's national industry, which increases confidence of domestic enterprises" said Feng.
There are 47 Chinese fastener enterprises applying for this anti-dumping investigation, most of which are private-owned enterprises scattered in different areas. This anti-dumping case involves the most Chinese enterprises of all the China's anti-dumping cases against foreign countries since China's entry into the WTO in 2001.
According to Mr. Fu Donghui, the attorney for Chinese fastener enterprises, the main enterprises involved in this anti-dumping investigation are in Germany. Chinese party has already held some evidence. Since there is rapid increase in quantity of EU's fastener products with lower price, the sales price of Chinese carbon steel fastener products is seriously restrained. When it comes to how many anti-dumping duties will we impose against EU, it depends on the result of the investigation by Ministry of Commerce of the P.R.C.
Source: www.ChinaFastener.com
Keywords:Fastener
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