China likely to raise access threshold of steel trade-China Mining

China likely to raise access threshold of steel trade

(www.chinamining.org)
Updated: 2007-10-29 11:10
Counter:

Chinese Ministry of Commerce is drawing up regulations to better the qualification of steel traders, likely to raise the access threshold of steel trade to 30,000 tons per year.

A ministerial official predicted that only 200 steel traders or less will be left, if the regulations take effect. At present, China boasts 12,000 qualified traders engaged in steel import and export.

The regulations aim not only to restrain steel export volume, but also to regulate the market. The new regulations will avert fierce competition and negative price war. According to the official, small steel traders are encouraged to cooperate with big traders in doing foreign trade business under the new regulations.In addition to the market admittance administration, the Ministry of Commerce will likely release policies to rule steel export due to the pressure from trade surplus and environmental protection.

Relating

·China steel industry body denies rumor of export tax rise
·China unlikely to issue new policy on export of rolled steel before 4th quarter: institution
·China to raise tariff to curb steel export in 2008
·Policies to slow China steel exports begin to pay off
·China to raise export tariffs on some steel products next year
·China to impose or raise export tariffs on coal, steel products next year
·China likely to adjust steel tariff in early 2008
·China likely to issue further restriction policy on steel export
·China to Cancel or Reduce VAT Rebates for Steel Pipe Exports
·Export rebate adjustment on steel products to come to an end

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