China Imposes Anti-dumping Tax on Imported ROK-made PET Chips

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Last updated at: (Beijing Time) Monday, February 10, 2003

China Imposes Anti-dumping Tax on Imported ROK-made PET Chips

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China imposed a five-year anti-dumping tax on imported PET chips made in the Republic of Korea (ROK) on Feb. 3, according to a statement issued by the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) here Sunday.

MOFTEC initiated the anti-dumping investigation on Aug. 3, 2001,and began temporary anti-dumping measures against imports of the product on Oct. 29, 2002.

The MOFTEC statement said the cash deposit provided by importers according to the first arbitration will be counted toward the final arbitration and transferred into anti-dumping tax.

The cash deposit for value-added tax in the import course will also be transferred into tax, MOFTEC said.

According to the final investigation and relevant Chinese anti-dumping regulations, MOFTEC judged dumping did take place and the State Economic and Trade Commission (SETC) concluded the imports did cause substantial damage to the domestic industry.

The two departments judged that there was a causal relationshipbetween the dumping and damage, according to the statement.

The Tariff Policy Commission of the State Council adopted MOFTEC's suggestion and decided to impose anti-dumping tax on the product, the statement said.

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