China Anti-Dumping Measures on Korean Fiber

BEIJING, February 10 China took formal anti-dumping measures on Feb. 3 against imports of polyester stable fiber produced in the Republic of Korea (ROK) by imposing anti-dumping duties on the product, the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) announced on February 9.



In response to an appeal from the domestic industry, MOFTEC launched its anti-dumping investigation on Aug. 3, 2001, and decided to take temporary measures on Oct. 22, 2002. The MOFTEC investigation found that dumping did take place, and the State Economic and Trade Commission (SETC) concluded that the imports did cause substantial damage to the domestic industry.



MOFTEC and SETC judged that there was a direct causal relationship between the dumping and damage, according to the final finding on the basis of China's anti-dumping regulations.



MOFTEC said that importers of ROK-made polyester stable fibers should start paying anti-dumping taxes to Chinese customs for a period of five years.



The anti-dumping tax rate ranges from 2 per cent to 48 per cent, and those cash deposits provided by importers in response to the preliminary judgment will be transformed into taxes, according to MOFTEC.



Source: Asia Pulse