China confirms to use bidding for textile export quota

China''s Ministry of Commerce (MOC) recently confirmed that a part of 2006 textile export quota will be allocated through a bidding system that is based on export scales of individual companies.

A special committee will be set up under the MOC to handle the bidding process, for which registered and qualified enterprises with an export license and an export record will be eligible to apply.

Meanwhile, Chinese Minister of Commerce Bo Xilai expects that the recent quota arrangement with the EU will have a mere effect on 2006 Chinese textile export. He said during an interview with China Central Television (CCTV) that the arrangement had advanced a quantity that is less than 3% of the permitted volume for next year.

source:textile.2456.com