With Washington mounting pressure on Beijing to end the dollar-yuan peg, the People's Bank of China announced Thursday a modest revaluation. The U.S. and the EU have both warmly welcomed the news. Since 1994, China has pegged its currency, the Yuan, to the dollar which has resulted in a fixed exchange rate of 8.28 yuan to the US dollar. This "hard peg" policy has recently come under scrutiny and resulted in complaints from some U.S. manufacturers and labor groups that this practice unfairly as

The policy will be observed until around 80 percent of the total quota volume for each item is filled, said the Ministry of Trade.Looking to capitalise on the garment quotas available to the US market, TAQAD requested on Wednesday that US importers inform them of their order plans until the end of the year for categories 347/348 and 647/648 (synthetic trousers), which the trade and industry ministries say will be distributed according to the automatic allocation policy until August 31 of this ye

This September will see the exciting launch of FOOTWEARFIRST.com, the first digital news and information service covering everything about shoes within the UK, overseas trade and consumer markets ?developed by the BFA in partnership with the Cambridge based communications companyMedia-Fx Limited.It will provide information, and how we buy products and services. It provides an unprecedented opportunity to attract substantial amounts of potential new customers with instant access to valuable infor

Leading software solutions and project labels ideas provider Avery Dennison Corporation launched New 32-bit Thermal Transfer Printer.Produces High-Res Fabric Care Labels in Textile, Apparel Applications.User benefits include sharp, durable 300-dpi printing, ability to process diverse label fabrics, and easy label roll changes. A new 8-inch-per-second thermal transfer printer that delivers fast, reliable production of fabric care labels in apparel, textile and bedding applications is now availabl

China's mainland is set to implement zero tariffs on all products produced in Hong Kong from January 1, 2006. This decision will mark the beginning of the third phase of the Closer Economic Partnership Arrangement (CEPA) between the two sides. The dropping of tariffs was revealed last week by Wang Liaoping, director of the Taiwan, Hong Kong and Macao Affairs Department of the Ministry of Commerce. The official said that under the arrangement, an additional 300 categories of Hong Kong products, r

Chinese Bureau of License, Department of Foreign Trade and CIECC of the Ministry of Commerce reached a consensus that certifying authorities throughout the country and Customs implement on-line confirming system on provisional textiles export license from July 20, 2005. Written forms and electronic data of provisional export license will be foundation of the Customs, and the Custom will do related formalities after checking the written forms and electronic data of provisional export license. It

China has firmly countered the target of the United States for curbing categories of the imported Chinese curtains, said Chong Quan, spokesman of the Chinese Ministry of Commerce. The US Committee for the Implementation of Textile Agreements (CITA), an inter-agency committee overseen by the US Commerce Department, accepted the application made by some US textile industry communities on imposing limits on imported Chinese curtains on July 14. This is another new application accepted by the CITA t

Leading textile machinery manufactures from China intends to set up sales and service network throughout the India, with a vision to expand in the emerging spinning and chemical fibre zones in the textile industry.Liu Haitao, part of a delegation of textile machinery manufacturers, on under China Texmatech (CTMTC) on country's visit to display their supply capability, informed that they are deeply interested to expand particularly in spinning, weaving and garment sector.However, manufacturers ar

President of the European Union Commission, Jose Manuel Barroso stated that China's emergence should be considered as an opportunity not as a threat. Speaking at a business school in Shanghai, Barroso said the whole world is increasingly aware of China's influence with its rapid economic growth over the past two decades. But China's rise is "an opportunity" rather than "a threat" to other countries, he said. Barroso arrived in Beijing Thursday morning for a five-day official visit. He said durin

Commerce Secretary S N Menon has called for diversification of India? export basket to China to maintain growth rate in bilateral trade. He was delivering the keynote address at the seminar on ?iversification of Indian Exports to China?jointly organized by the Department of Commerce, Ministry of Commerce and Industry and the Federation of Indian Chambers of Commerce and Industry (FICCI). ?he bilateral trade between the two countries amounted to US $ 11.3 billion in 2004-05. However this is less