China to resolve EU fastener trade dispute under WTO rules: official

08:13, May 11, 2010      

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China will conduct consultations with the European Union on the steel fastener trade dispute in line with the rules of the World Trade Organization's disputes settlement system, said an official with the Ministry of Commerce Monday.

China's anti-dumping investigation into carbon-steel fastener imports from the EU was based on Chinese regulations and the assessment of the harm to the domestic industry, said the official.

The remarks came after the EU filed a complaint Sunday against China at the World Trade Organization over Beijing's decision to impose anti-dumping measures against carbon-steel fastener imports, which included self-tapping screws, bolts and gaskets.

Chinese fastener importers were required to pay a deposit to customs based on the margins -- ranging from 16.8 to 24.6 percent -- between the normal value of the products and the alleged dumping price since Dec. 28, 2009.

Initial investigations by the Chinese authorities showed the EU had allegedly dumped carbon-steel fasteners on the Chinese market, which caused substantial damage to the local industry.

The temporary anti-dumping measures were adopted to safeguard the legitimate rights and interests of the domestic producers, the official said.

China started an anti-dumping probe into EU carbon steel fasteners on Dec. 29, 2008, after an application for a probe by the fastener branch of the China General Machine Components Industry Association on behalf of Chinese fastener producers.

Source: Xinhua


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