China Commerce Bureau has issued the results of textile export quota bidding to the US and EU during 2006. Total 4183 textile units have received export quota at prices lower than last two times.
Exporters from provinces like Guangdong, Zhejiang, Jiangsu, Shandong and Shanghai city dominated this list and they will have to pay full bidding guarantee before August 28 this year.
The industry insiders expect that circulating quota would increase in the market and quota price would go down, which would be helpful for textile export to the US and EU in second half 2006.
However, Chinese textile units can strive for the return of orders, which have shifted to India, Vietnam and other neighbour countries.
