China Takes Anti-Dumping Action On Korean Polyester Staple

Beijing, Oct 22, 2002: China has begun to take temporary anti-dumping measures against imports of polyester stable fiber produced in the Republic of Korea (ROK), according to the Ministry of Foreign Trade and Economic Cooperation (MOFTEC).

The decision was made following an investigation and an arbitration session, the MOFTEC announced in a statement. The MOFTEC investigation has 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, according to the statement.

MOFTEC and SETC judged that there was a direct causal relationship between the dumping and damage, it said.

The MOFTEC said that importers of polyester stable fiber produced in the Republic of Korea (ROK) should provide cash deposits to the Chinese Customs in accordance with the decision.

China's government departments launched an investigation to look into the case on August 3, 2001.

Source: Asia Pulse