China will levy an export tax on textile products in 2005, the
Ministry of Commerce (MOC) said Friday.
The tax will be collected according to the volume of exports and
the rate will be 0.2 yuan (US$0.024) or 0.3 yuan (US$0.036) per
item or 0.5 yuan (US$0.061) per kilogram, said Lu Jianhua, director
of the MOC foreign trade sector.
According to Lu, China will levy the tax on 31 kinds of textile
products in six categories in all trading forms and to all overseas
market in 2005, when all the World Trade Organization members will
remove quota on textile products.
Experts said that such measure will help improve the structure
of Chinese textile exports and achieve the common development with
other trading partners.
China is the world's major exporter of textile products with its
export value reaching 77.5 billion US dollars from January to
October this year. The United States, European Union and Japan are
its top three importers.
(Xinhua News Agency December 31, 2004)