Economy > Trade

China to levy anti-dumping duty on chemical from Japan

Xinhua Financein BEIJING
2017-04-19 12:55

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China decided to impose an anti-dumping duty on a chemical product imported from Japan in a final ruling after a year-long trade probe.

Effective Thursday, importers of Vinylidene Chloride-Vinyl Chloride Copolymer Resin, which is commonly used to make plastic packages and coatings, will have to pay a tariff of 47.1 percent for the next five years, the Ministry of Commerce (MOC) said Wednesday in a statement.

The MOC launched investigations in April 2016 after receiving complaints from domestic companies, and then announced provisional measures in a preliminary ruling nine months later.

The domestic industry saw actual damages with shrinking profit margins and piling stocks during the past years as Japanese producers intentionally forced down prices in the Chinese market, according to the statement.

Companies affected by the tax include Kureha Corporation and Asahi Kasei Chemicals Corporation.

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