Nevertheless, the United States and the EU took restrictive measures on textile products from China based on Article 242, resulting in concerned conditions and procedures for the restriction.
In the early hours of June 11 in Shanghai, after ten-hour-long closed-door talks between Chinese Minister of Commerce Bo Xilai and visiting EU Trade Commissioner Peter Mandelson, China and the EU reached an agreement on textile exports. Then China released the new management regulation on the basis of the agreement.
The spokesman said that not like the situation with U.S., the agreement with EU would dispel the misgivings both at home and overseas on the textile exports of China, thus reducing uncertainty.
He acknowledged that the new regulation differs widely from the one adopted formerly in the country. Firstly, the new regulation was promulgated on the basis of negotiation and thus China has its say in it, while the former exclusively importers set one.
Besides, the textile categories being set with limits are much fewer in the new regulation. For example, in the textile exports to EU, the regulation applies to only ten categories, compared with 41 just before January 1, 2005 when the global quota system ended.
The spokesman suggested domestic textile companies plan carefully in compliance with the new regulation when deciding to export to the EU and improve their products quantity and value-added to ensure higher profits.ionion when deciding to export to the EU and improve their products quantity and value-added to ensure higher profits.
Ministry of Commerce - China
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