China slaps dumping tax on imported chemicals

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Last updated at: (Beijing Time) Sunday, November 23, 2003

China slaps dumping tax on imported chemicals

China announced the existence of dumping and began collecting anti-dumping tax Saturday on toluene diisocyanate, a chemical product, imported from Japan, the Republic of Korea and the United States.

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China announced the existence of dumping and began collecting anti-dumping tax Saturday on toluene diisocyanate, a chemical product, imported from Japan, the Republic of Korea and the United States.

Importers of the chemical from these countries will have to payan anti-dumping tax to Chinese customs at rates ranging from 3 percent to 49 percent for a five-year period, according to a bulletin issued by the Ministry of Commerce.

The former Ministry of Foreign Trade and Economic Cooperation (MOFTEC) started in May 2002 the anti-dumping investigation into this product at the request of Chinese producers. The Ministry of Commerce, which succeeded the MOFTEC, announced an initial decision in June this year.

Saturday's announcement was the final verdict on this case.

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