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China scraps export tariffs on textile goods
(CCTV)
Updated: 2005-08-02 17:03 China on Monday scrapped its
export tariffs on 17 Chinese-made textile products subject to the European
Union's new trade restrictions.
It is the fourth time China has re-adjusted its export tariff on textile
products this year.
Experts hope the measure will help Chinese textile producers remain
profitable, especially after the appreciation of the Renminbi, which will
further eat into the bottom line of textile companies.
It is estimated that 30 percent of China's 19 million textile workers will
lose their jobs because of trade barriers set by the EU and the United States.
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