China sets anti-dumping tax rate at zero percent against phenol produced by the Republic of Korea (ROK)-based LG Company in accordance with regulations, the Ministry of Commerce announced Tuesday.

On Dec. 5, 2005, China started an anti-dumping investigation against phenol produced by the company, a new foreign exporter that began exporting the chemical after China's previous anti-dumping investigation against the same product from ROK.

According to the finding of the Ministry of Commerce after nine-month investigation, China fixed the anti-dumping tax rate at zero percent.

According to China's anti-dumping law, Chinese importers of the chemical from LG company were required to make deposits to Chinese customs during the nine-month investigation. The importers will have their deposit returned, the ministry said.

Source: Xinhua