The Ministry of Foreign Trade and Economic Cooperation (MOFTEC) has decided to take temporary anti-dumping measures against acrylate produced in Japan, Germany and the United States beginning from Wednesday.
MOFTEC began investigating the case on December 10, 1999.
Together with the General Administration of Customs (GAC), MOFTEC found that acrylate producers from Japan, Germany and the United States had been dumping their products on the Chinese market, according to a press release from MOFTEC.
Dumping means selling at lower price than normal. There are three ways of deciding what prices are normal: those on sellers' domestic market, those that sellers offer to a third country besides the two sides involved the anti-dumping case and prices worked out from sellers' costs which include interim costs such as transportation and a reasonable margin of profit.
The State Economic and Trade Commission also ruled that the dumping of acrylate produced by the three countries had done substantial damage to domestic industries.
Importers will now have to hand in a certain amount of cash to GAC before importing acrylate (tariff number 29161200) produced in Japan, Germany or the United States, to China, according to MOFTEC.
(China Daily 11/23/2000)
