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Country withdraws export credit allowance

19
May '07
America has compelled China to cancel the export credit allowance for some big export enterprises as these damaged the interest of American companies and American workers.

On May 8, Chinese government cancelled the export credit allowance, which is a kind of preferred loan, enjoyed by some big companies managed by Bank of China. This loan allowance has created friction between Beijing and its trade partners.

More over US has also lodged a complaint in WTO, that China has violated 9 kinds of regulated actions.

Fibre2fashion News Desk - China


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