Newsletter
Weather
Community
English home Forum Photo Gallery Features Newsletter Archive   About US Help Site Map
China
World
Opinion
Business
Sci-Edu
Culture/Life
Sports
Photos
 Services
- Newsletter
- Online Community
- China Biz Info
- News Archive
- Feedback
- Voices of Readers
- Weather Forecast
 RSS Feeds
- China 
- Business 
- World 
- Sci-Edu 
- Culture/Life 
- Sports 
- Photos 
- Most Popular 
- FM Briefings 
 Search
 About China
- China at a glance
- China in brief 2004
- Chinese history
- Constitution
- Laws & regulations
- CPC & state organs
- Ethnic minorities
- Selected Works of Deng Xiaoping

Home >> Business
UPDATED: 16:56, April 10, 2006
China to blacklist lawbreaking foreign trade companies
font size    

The Ministry of Commerce has decided to make public this year the name list of domestic companies in violation of foreign trade laws and regulations, a senior commerce official said in Beijing on Monday.

"A telephone hotline would soon be opened to announce the name list of companies which violate state laws and regulations," said Lu Jianhua, director of the Foreign Trade Department under the Ministry of Commerce.

Describing these measures "a sign of intensified market supervision", Lu promised to give suspect companies an immediate investigation. Once their wrongdoings were confirmed, law-enforcing departments would step in, he said.

As of Tuesday, a temporary method aiming to penalize domestic exporters who, at the request of importers, issue self-made invoices with a face value less than their actual export volume, will be put into effect.

"Such transgression has been a long-standing issue in China as management loopholes always exist in the customs system of some countries, which invited their own importers to rack their brains to evade import duties," Lu said.

A special drive jointly initiated by the Ministry of Commerce, the General Administration of Customs and the State Taxation Administration will soon be launched to crack down on home companies who provide convenience for their overseas partners to evade import tariffs.

"Wrongdoers may have their foreign trade operation rights annulled for as long as three years," Lu said.

To boost a healthier growth of China's foreign trade, the Ministry of Commerce will give more prominence to the building of a legal framework and law enforcement this year.

Source: Xinhua


Comments on the story Comment on the story Recommend to friends Tell a friend Print friendly Version Print friendly format Save to disk Save this


   Recommendation
- Text Version
- RSS Feeds
- China Forum
- Newsletter
- People's Comment
- Most Popular
 Related News
- Plan to unionize 60% of foreign companies

- Privately-owned companies contribute 16 pct of China's total foreign trade in 2005


Manufacturers, Exporters, Wholesalers - Global trade starts here.
Copyright by People's Daily Online, all rights reserved