China levies anti-dumping tax on imported phenol
( 2004-02-01 16:33) (Xinhua)
China on Sunday began levying
anti-dumping tax on imports of phenol, a wildly used chemical component produced
in Japan, the Republic of Korea, the United States and China's Taiwan Province.
The Ministry of Commerce (MOC) said in its final verdict issued on Sunday
that antidumping investigation found that dumping did occur and caused
substantial damage to the mainland's industry.
The MOC verdict required importers of such products to pay tax ranging from
three percent to 144 percent, depending on the dumping degree of the
manufacturers, to Chinese Customs for five years.
China initiated the investigation in August 2002, and extended the scheduled
one-year investigation for another half year until February 2004.
China took temporary anti-dumping measures against the chemicalbeginning June
9, 2003, requiring the importers to pay cash deposits to Chinese Customs ranging
from seven percent to 144 percent according to dumping profit
margins.
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