China Watch Blog has learnt that the European Union will extend anti-dumping duties on bicycles imported from China, and impose trade barriers on Chinese ceramic tiles.
The People’s Daily reported that according to a document obtained by Xinhua, the EU is set to introduce a five-year import duties of up to 69.7 percent on Chinese bathroom, kitchen and paving tiles, which will take effect starting from mid-September.
Meanwhile, EU will extend anti-dumping duties of 48.5 percent on Chinese bicycles and bicycle parts till 2016.
China Watch Blog announces that a high-powered business delegation from Cyprus were in town yesterday to woo Chinese investors, businesses, ship management companies, shipowners and charterers to establish their operations in that country as a door leading into the European Union.
One speaker after another, representing a bank, law firm and property developer, talked for two hours about the advantages of setting up business in Cyprus, its low tax regime and how Chinese investors could take advantage of the tax benefits.
Cyprus, which is in the Southeastern Mediterranean, has double taxation treaties with 45 countries.
The European Union surpassed the United States in the first quarter of 2010 as the largest export market for Suzhou city, a trade hub in east China’s Jiangsu Province, according to local customs. Suzhou sold US$8.83 billionÂ worth of goods to the EU during the first quarter, up by 57.1 percent year on year, while exporting US$7.98 billion worth of goods to the U.S. for the same period, up by 25.2 percent year on year, said a spokesperson with Suzhou Customs. “The EU has been Suzhou’s number one export destination for years except for the second half of 2009 when it was overtaken by the U.S.,” said the spokesperson. The trade rise was due to many countries’ stimulus packages which raised their global purchasing power as well as China’s policy incentives, such as export tax rebates, according to the spokesperson. Suzhou’s international trade was worth US$59.95 billion from January to March, which was the fourth largest in China after Shanghai, Beijing and southern Guangdong Province’s Shenzhen. Suzhou covers 8,488 square km with a population of 8.26 million people in 2009.