EU Levying Anti-Dumping Duties On Polyester High Strength Yarn For 11 Chinese Enterprises

Recently, under the Ministry of Commerce, the international buyers network announced the preliminary results of the anti-dumping actions made by the European Union to China's polyester high strength yarn. The EU's anti-dumping duties on 9.3% Chinese companies involved in the case were 9.3%, of which three companies on the field conducted 9.3%, 7.7% and 0% provisional duties respectively, while 8 other enterprises were subject to 8.9% temporary tariffs.

Last September, the European Union launched an anti-dumping investigation on polyester high strength yarn imported from China, Korea and Taiwan. This has also become the first stage of trade remedy measures taken by the European Union for Chinese textiles in the post quota era, involving 40 mainland enterprises and involving over 100 million US dollars.

In the preliminary results, the EU chose China Taiwan as an alternative country to calculate the normal value of Chinese products.

It is understood that polyester high strength yarn is widely used in tire reinforcement, weaving, conveyor belts and seatbelt lights. According to Chinese statistics, in 2008, the export volume of our products to Europe was about US $123 million 890 thousand, up 33.15% over the same period last year.

In this case, 11 Chinese exporters submitted information on the respondent, and the European Union selected 3 on-site inspections. The 3 enterprises are Zhejiang ancient fiber road new material Co., Ltd., Zhejiang Hai Lide new material Limited by Share Ltd and Zhejiang Yu Fu Industrial Fiber Co., Ltd.

Among them, Halliday is a listed company of Shenzhen Stock Exchange, and it is also the only enterprise that has not been charged with anti-dumping duties. On the day of the announcement, Halliday issued a notice that the European Commission initially ruled that the anti-dumping duty rate of the company was 0%, that is, the EU importers will not be subject to anti-dumping duties on the purchase of polyester high strength yarn (polyester filament) from our company.

In September last year, the European Union filed for second days. Halliday had said that in 2008, the company's sales to the EU could be about 17% of the company's total revenue.

{page_break} Halliday said that the products expected to export to the EU market will increase. As the result of the EU anti-dumping preliminary ruling has just been released, the growth rate of the company's export orders to the EU is still uncertain. Halliday shares fell 0.28 yuan to 15.20 yuan, down 1.81%.

The list of 8 other responding enterprises is Hangzhou Hua Chun chemical fiber dyeing and Weaving Co., Ltd., Heilongjiang long Du Limited by Share Ltd, Xiao Xing Chemical fiber (Jiaxing) Co., Ltd., Ya Dong industries (Suzhou) Co., Ltd., Shanghai Wen Long Chemical Fiber Co., Ltd., Shaoxing Hai Fu Chemical Fiber Co., Ltd., Sinopec Shanghai Shanghai Petrochemical Company, Wuxi Taiji industrial Limited by Share Ltd.

The anti-dumping duty rate of the European Commission is the result of preliminary ruling. According to the EU anti-dumping investigation procedure, the European Commission will predict the final ruling within 6 months.