HOME    NEWS    SPECIAL REPORT    PHOTO    COMMENTARY    VOICE
NEWS > Business
Additional products move onto banned list
2007-04-07 04:46:14 Shanghai Daily

SHANGHAI, Apr. 7 -- China has extended the list of banned items to include more commodities which will not be allowed to be imported or exported if they are used for processing purposes.

The ban now covers an addition of 186 goods, including some crude products such as heavy diesel oil and fuel oil, which underscores the latest state effort to tighten trading of such nonrenewable resource-related commodities.

Other affected products include certain timber products, fertilizers as well as furs of certain endangered species.

This put the total number of products that are banned in the processing trade to 990, according to the updated list issued on Thursday by the Ministry of Commerce, the General Administration of Customs and the State Environmental Protection Administration.

The new list will become effective from April 26.

The processing trade refers to imports of raw materials or semi-finished goods for processing and then exporting the finished products.

Banning processing trade companies from importing and exporting such energy products could also help restrain China's rapid growth in crude imports, which some analysts have alleged is pushing up global oil prices.

The processing trade, which plays a key role in China's foreign trade, totaled US$831.9 billion in 2006, a 21 percent increase from a year before, and 47 percent of its total imports and exports, according to official data.

The government has been updating the list to improve the structure of foreign trade.

MORE NEWS
Corporate confidence in China hits record high  
Sales of gems, precious stones set to rise  
China's petrochemical industry sees profits rise 18.3 percent in 2006  
China to get more international commercial loans despite huge foreign reserves  
Stocks stay firm despite banks' ratio adjustment  
Tax policy issued for wholly-owned banks transformed from foreign band branches  
Boao forum puts integration in sight  
Oracle to open branch in NW China  

SINA English is the English-language destination for news and information about China. Find general information on life, culture and travel in China through our news and special reports£¬or find business partners through our online Business Directory. For investment opportunities with SINA, please click the link "Investor" below.
| About SINA | Investor | Media Kit | Comments or Question? |
Copyright © 1996- SINA Corporation, All Rights Reserved