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The heated on-line bid for export quotas on 21 categories of textiles to the United States has caused congestion on the official website for bid invitations.
In response, the government has prolonged the bid period by another 24 hours, the China Chamber of Commerce for Import and Export of Textiles said on Tuesday.
Last week, almost 30,000 qualified textile enterprises in China joined the bidding for export quotas on 21 categories of textiles to the US next year.
The bid, which had been expected to end by December 8 originally, actually concluded on December 9 due to "technical problems," the Ministry of Commerce announced on its website.
The competition was very heated due to a half-year block on some kinds of products to the United States, insiders said. When the bid result was released by the chamber of commerce, people found the final prices on most textile categories were much higher than the minimum bid prices.
After seven rounds of talks, the United States and China in November signed a three-year agreement on textile trade, imposing quotas on Chinese textile products but clearing a major obstacle to bilateral trade.
A total of 21 types of clothing and textiles have been placed under the import restrictions. The agreement provides for a progressive increase in imports of major textiles and apparel products from China -- by 10 to 15 percent in 2006, 12.5 to 16 percent in 2007, and 15 to 17 percent in 2008.
Thirty percent of the agreed quota next year will be distributed through public bids, said the Ministry of Commerce.
(Xinhua News Agency December 14, 2005)
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