Following the imposition of anti-dumping tax by the US, export of Chinese art canvas to America suffered heavy losses in the first five months of this year.
The export quantity of Chinese art canvas was just 35,800 meters, a decrease of 78.1 percent compared to 2005 — the year when anti-dumping probe was started by America. The export value in 2007 was just US $7.4721 million, a decrease of 72 percent compared to 2005. On the other hand, export prices shot up by 29.73 percent.
Even though China had exported $1.6 million worth of art canvas in 2006, the amount was almost 81 percent less than what was exported in 2005.
In the absence of availability of a proper market economic status, the high anti-dumping tax levied on Chinese art canvas is proving detrimental for the country's export sector.
Around $3.22 million were pumped into the investigation by America. Two Chinese enterprises had responded to prosecutions one year after the inquiry began.
Fibre2fashion News Desk - China
marketing@alchempro.com
