China will impose a five-year anti-dumping tax on imported acrylates made in the Republic of Korea (ROK), Malaysia, Singapore and Indonesia beginning Thursday, according to the Ministry of Commerce.
China initiated an anti-dumping investigation with regard to acrylates on Oct. 10, 2001, and began temporary anti-dumping measures against imports of the product on Dec. 5, 2002.
According to the final investigation and relevant Chinese anti-dumping regulations, the Ministry of Commerce judged that dumping did take place, the imports did cause substantial damage to China's domestic industry.
With suggestions from the Ministry of Commerce, the Tariff Policy Commission of the State Council decided to impose an anti-dumping tax on the product. The Ministry of Commerce said the cash deposit provided by importers according to the first arbitration would be counted toward the final arbitration and transferred into anti-dumping tax. The cash deposit for value-added tax on related imports would also be transferred to the tax.
(Xinhua News Agency April 9, 2003)
