China scrapped export tariffs on 17 Chinese-made textile goods subject to the European Union's new trade restrictions yesterday.
It is the fourth time China readjusted its export tariffs on textile products this year. China still imposes export tariffs on 51 other textile goods.
On July 21, the State Council, China's Cabinet, made a decision to cancel the tariffs on the 17 products.
Zhao Yumin, an expert with China Academy of International Trade and Economic Cooperation under the Ministry of Commerce, said major importers, like the EU and the United States, are using quantity controls on imports of Chinese textile products, so there is no need to levy tariffs on these products anymore.
"Besides, the management of tariffs has its uncertainties, which might cause damage to the overall industry," said Zhao.
Experts hope the measure will help Chinese textile producers make a better living, especially after the appreciation of the Chinese currency of yuan, which has further eroded the profits of textile companies.
Textile traders and producers in China welcomed the decision, saying the readjustment of tariffs will help firms to lower costs.
(Xinhua)