China continues anti-dumping taxation on imported polyester chip with ROK origin

The Chinese Ministry of Commerce announced on Monday its decision on imposing anti-dumping tax on imported polyester chip produced by a Republic of Korea (ROK) company at a reduced tax rate of 26 percent.

From Tuesday, entities importing the product originating from Hyosung Corporation of the ROK will have to pay the anti-dumping tax.

China began to charge the tax on imported polyester chip produced in Hyosung Corporation on Feb. 3, 2003, at a rate of 52 percent.

The Ministry of Commerce received an application of the company for review on Feb. 27, 2004, and started review proceedings of the anti-dumping taxation on April 26, 2004.

The company could apply for administrative reconsideration or bring a lawsuit to Chinese court according to the Regulations on Anti-dumping of the People's Republic of China if it refuses to accept the arbitration, said the ministry.