European Union Imposed On China Fasteners Final Ruling High 77% To 85% Tax - Fasteners, The European

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Central much concern to the industry fasteners EU anti-dumping case in the last 18-month investigation, on Feb. 1 announced a final decision the European Council, fasteners exporters to China from 77% to collection 85% of the high taxes for five years. Industry experts said the EU is China's major export markets fasteners, accounting for about one-third of total exports, which will bring great damage to China's fastener business.

China General Machine Parts Fastener Industry Association branch president Fengjin Yao said that in this case, the power companies and associations have been difficult to compete with the European Union's unfair, I hope the Chinese Government to come forward in the WTO framework to correct the erroneous practice of the European Union. Previously, the Chinese Ministry of Commerce on behalf of the Chinese government and industry expressed strong dissatisfaction with the ruling of the European Union, said the right to retain access to WTO.

China expressed dissatisfaction with the EU ruling
Fengjin Yao in the final ruling after hearing the European Union, said the results were not surprised, this is the duty to disclose before the European Union there is no difference. And from the European Union in filing, verification and hearing performance, the European Union to protect domestic industries unprincipled purpose already exposed.

According to him, China's exports to the EU every year a large number of fasteners in the low-end products, this in itself is the use of labor advantages to the international division of labor and fasteners on the EU market is an important supplement. But with the rise of protectionism in the European Union, November 9, 2007, 90 enterprises supported by the EU's European Metal Fastener Manufacturers Association of China to the EU to adopt trade sanctions fastener products, has accused China of business enterprises price lower than the prices of raw materials, the investigation lasted nearly a year and a half. During this period China was held in the European Union 4 hearing was in February 2008, May, September and November. In addition to the defense, the Chinese enterprises involved also fastener importers, distributors and downstream users and other interests of the alliance lobbied on the part of the anti-dumping committee members to lobby and fight, also held at the headquarters of the European Union will meet Chinese and foreign media , explain the situation to explain the Chinese point of view.

Chinese enterprises that China's fastener product did not damage the EU's peer companies, because the EU is the production of high-grade fasteners, such as automotive fasteners, high strength, while Chinese production is Ordinary firmware, is middle and low, mainly for construction and machinery products, two-way trade is a complement. The analysis from the European Commission proved this fact. In the survey for the 2003 to 2007, the EU producers of similar profit more than doubled, and the production, sales, sales and return on investment showed an upward trend in employment has increased by 12%.

Ping Jinyao devoted to that, to find out whether the raw materials of Chinese fastener enterprises by state subsidies, the EU also made a special trip to China, the verification of three material suppliers, which in the EU anti-dumping investigations are rare. EU officials in order to detail the material procurement process, the association also accompanied them to visit the two materials market, and demonstrates how companies compare the prices through the network and how to market in material procurement. "Officials have been aware of the real scene, but returned to China they still close their eyes talking." At this point, Fengjin Yao was very angry.

Related Reading: Heavy duty EU: China Fastener Company will lose the European market
2008 12 3 EU resolution of high tariffs, will make "Made in China" and fasteners in five years or even longer to lose the EU market. Full text

V. European companies started dumping my defense of fastener enterprises

Many times in international trade, the Chinese fastener enterprises under investigation, the first initiative to take up legal arms against the Chinese dumping of carbon steel fasteners to the EU anti-dumping proceedings against enterprises.
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European Union Imposed On China Fasteners Final Ruling High 77% To 85% Tax - Fasteners, The European

This article was published on 2010/12/31