China will introduce a licensing system to limit the growth of exports
The Chinese Ministry of Commerce reported that it introduces a temporary licensing system to curb the rise in textile exports.
According to the Ministry, the Chinese textile manufacturers have applied for a license, which will show the limits of their exports on the basis of the volume of exports last year. The new rule is effective July 20, 2005
The EU and the U.S. imposed quotas on textile imports from China, as they claim that the cheap Chinese textiles crowded domestic markets and caused the collapse.
Trade tensions between the EU and China have disappeared after long hours of meetings where it was decided that China will limit myself exports to the EU market.
The ministry said that the license will be valid 6 months, and updated - every three months, according to fibre2fashion
