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Updated: 2005-05-31 11:33
 
China to safeguard millions of textile jobs 
昨天我國宣布對81種紡織品取消征收出口關稅,使近期備受關注的紡織品貿易問題再度升溫。商務部部長薄熙來在昨天下午的新聞發布會上回答了記者的提問。他指出,歐美對中國紡織品設限一方面缺乏根據,另一方面對中國企業極不公平。  

China to safeguard millions of textile jobs
Commerce Minister Bo Xilai gestures as he speaks to the media during a press conference in Beijing Monday, May 30, 2005. (AP)

In a move to safeguard thousands of jobs, China declared it will scrap - after only 10 days - its sharply increased export duties on Chinese-made textiles.

The withdrawal comes after Washington and the European Union clamped more restrictions on Chinese exports, which China said are "unfair and incorrect."

Minister of Commerce Bo Xilai told a news briefing yesterday that export tariffs on 81 categories of textile products will be lifted, including the 74 for which 400 per cent increases were announced.

The latest restrictions imposed by the US side will affect US$2 billion worth of Chinese exports and 160,000 jobs, while the EU action will lead to a loss of US$300 million exports and corresponding jobs.

"Behind each category of product in question, some 1,000 to 6,000 Chinese enterprises would feel the pinch ," Bo said.

"We have to make corresponding policy adjustment since the EU and the US have set controls on Chinese textile exports," said Bo.

"We must be fair to Chinese producers."

To ease the concerns of trade partners, the Finance Ministry unveiled on May 20 a staggering 400 per cent increase on export tariffs on 74 classes of products starting on June 1.

Such products registered a sharp rise in exports in EU and US markets in the first few months of this year after decades-old global textile quotas were abolished on January 1.

Experts said there would be no sharp rise in exports if US and EU had taken a step-by-step approach to abolishing the quotas.

Bo said he had hoped the earlier announcement of steep tariff rises would help ease concerns of trading partners, but "it is a pity that both the EU and the US failed to accept the policy."

The China Textile Import and Export Chamber of Commerce said the adjustment will help ease the burden on Chinese enterprises, which are already operating on razor-thin profit margins.

However, Bo warned enterprises to prepare for further restrictive measures and adapt to a new international trade environment.

(China Daily)

 

Vocabulary:
 

feel the pinch : (感到手頭拮據)

staggering: so surprisingly impressive as to stun or overwhelm(令人驚愕的)

 

 
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