China's textile trade

Vice-Minister GAO Huchen recently spoke about the state of China's textile trade. Here are some key facts:

1. By restricting the growth on a small portion of China's textile exports (which accounts for only 7.4% of the total value of China's textile exports in 2006), China has been able to secure stable growth for the majority of its textile exports.

2. The utilization rate of the quota under the China-EU textile deal is only 54%−97%.

3. The quantitative restriction would expire at the end of 2007. After that, the textile products under the China-EU deal would be subject to a bilateral monitoring system, but no quota will be applied.

The full statement is available in Chinese here.