Ministry of Commerce announced that 3385 Chinese companies would share 18 percent of European Union quota for next year.
Bowing to the general opinion of the textile manufacturers seeking free and fair distribution of EU quotas, the Ministry resorted to first online bidding last week.
5,284 companies participated in the bidding process among, which 3,385 were announced winners.
This is also aimed at help manage better exporters?performance.
Ministry also announced that another 12 percent of the total quotas will go on sale in the next round, yet to be announced.
Quotas allocation up to 70 percent, are allocated to textile dealers based on their shipments from the previous year.
Sources claimed that this kind of partial bid process would avoid repeat of last month? stockpile fiasco where some 80 million textiles and garments got held at European ports customs warehouses.
What followed was a series of hectic discussions between EU and Chinese officials culminating in EU Chief Peter Mandelson securing the vote of European Parliament for releasing the withheld textiles.
Meanwhile, ministry sources stated that wool import quotas for 2006, was set at 287,000 tons.
