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EU's tax hardly hurts Chinese bike makers

www.chinanews.cn 2005-07-21 15:02:12

Chinanews, July 21 - The European Union made the decision on July 19th to
raise the anti-dumping tariff rate from 30.6% to 48.5% on Chinese bicycle
imports. China's two listed bicycle makers Feng Huang Company Limited and
Shanghai Forever Bicycle Company Limited said yesterday that EU's raising
the anti-dumping duties would have little impact on their export.
In addition to EU's anti-dumping measures, Canada also filed anti-dumping
charges. Canada's only two manufacturers of ordinary bicycles have filed
an appeal to the Canadian International Trade Tribunal, demanding an
increase of duties on imported ordinary bicycles and frameworks from the
previous 13% to 48%. They argued that surging bicycle imports from Asia
had endangered most Canadian bicycle makers.
Board secretary of Feng Huang Co. Li Yulong said that the company had
been exporting bicycles to more than 100 countries and areas. Due to EU's
anti-dumping policy, Feng Huang exported very few products to the EU.
Therefore, even if EU raised its tariff rate, the company remained
unaffected in business. Yuan Zhijian, board secretary of Shanghai
Forever, also said that exports accounted for little of the company's
sales. Last year the company's export value totaled only over 100 million
USD and most of its bicycles were exported to developing countries. Thus,
EU's anti-dumping measures will do little harm to its performance.

          ��EU anti-dumping investigation on shoes opposed (2005-07-12)
          ��EU probes China shoe imports (2005-07-01)

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