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China to remove export quota on cocoons, silk threads |
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08:36, November 21, 2008 |
China's Ministry of Commerce (MOC) said on Thursday the quota on cocoons and certain silk thread products will be removed starting January 1, 2009.
According to a statement on the MOC website, related exporters no longer need to apply for an export quota license when the policy becomes effective.
The 2008 quota was 26,000 tons for silk threads and 300 tons for cocoons.
The move is expected to boost silk and cocoon sales in light of an economic slowdown in the Chinese textile industry.
Source:Xinhua
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