Mainland China annuls import quota on some raw materials Jan.1, 2004

Taipei, Dec. 15, 2003 (CENS)--To honor its promises made before entering the World Trade Organization (WTO) and comply with the rising domestic demand, mainland China is to annul import quota permit on petroleum products, natural rubber, and automobile tires. In addition, the quota on some licensed automobiles and related key auto parts is to be repealed as well. The deregulation is effective beginning January 1, 2004.

Since its entry into WTO about two years ago the mainland has seen rapid economic growth. Its economic growth rate this year is expected to reach 8.5%, about double that of the United States and Japan, the world's two strong economic powers. With speedy industrial development, the mainland is thirsty for industry-use materials such as petroleum, rubber, and tires to meet the rising domestic market demand.

Currently there are eight categories of imported products under quota control in the mainland. Apart from the above-mentioned items, those that remain subjective to the import quota system include most automobiles and pivotal auto parts, production equipment for optical disks, special chemicals, dangerous raw materials, and the products that are detrimental to the ozone layer in the sky.

Besides, the mainland China's General Administration of Customs recently announced that some 50 products are subject to permits before being exported. And some export control items such as garlic and special steel planks are allowed to be exported without permission starting next year.