Home / Knowledge / News / Textiles / China adjusts cotton import tariff rate for February 2014
China adjusts cotton import tariff rate for February 2014
17
Jan '14
The China Foreign Exchange Trade System (CFETS), also known as the National Interbank Funding Center (the Center), a sub-institution of the People's Bank of China (PBC), has announced that the RMB exchange rate on January 15, 2014, was 1 US dollar = 6.1005 yuan.
 
As per China’s General Administration of Customs rules, the exchange rate on the third Wednesday of the month would be the applicable exchange rate for calculating the tax to be levied on import and exports of goods.
 
Hence, for import and export of cotton by the textile industry, tariff rate will be calculated on the basis of 1 US dollar = 6.1005 yuan for the month of February 2014.
 
In January 2014, tariff on cotton imports by China was calculated on the basis of 1 US dollar = 6.1105 yuan.
 
If the third Wednesday happens to be a statutory holiday, the exchange rate prevailing on the fourth Wednesday of the month is used for export-import calculations.
 

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Li & Fung

Textiles | On 24th Mar 2017

Li & Fung forms new supply chain partnership with PVH Corp

Li & Fung Limited, the world's leader in consumer goods design,...

Courtesy: Alizilla

Apparel/Garments | On 24th Mar 2017

Alibaba's eWTP finds first overseas base in Malaysia

In a step towards using the internet to bring small businesses around ...

Textiles | On 24th Mar 2017

BJMC to produce cotton-jute blended denim fabrics

To meet demand from the market, Bangladesh Jute Mills Corporation...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search