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Saturday May 14, 08:15
China tries to calm textile crisis by introducing new restricting measures
(by Roy Deng)

China tries to calm textile crisis by introducing new restricting measures

China is on the point of putting into effect new measures to check increasing textile exports. The textile topic became critical for trade relations with the European Union and the U.S.

A top Chinese textile-industry official confirmed that Chinese government discussed some restricting measures for some kinds of textiles, though he declined to give any other details.

"The new measures will be implemented within one or two months," said Du Yuzhou, chairman of the China National Textile & Apparel Council, a government industry body.

This statement coincided with the remarks made Wednesday by Chinese Premier Wen Jiabao, who said that China would make further efforts "to prevent excessive growth of China’s textile and garment exports."

Last month, the EU started the 60-day probe into surging Chinese textile imports. The U.S. also has argued with China over textile supplies, saying that they contributed to the U.S.’s trade deficit with China. In such circumstances, there appear more possibilities for tariffs on Chinese imports unless Beijing lets the yuan float higher.

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