Russia Issue Anti-dumping Investigation on Chinese Bearings

Resource from: cbcc-yinx Likes:2928

Nov 27,2006

Russia Issue Anti-dumping Investigation on Chinese Bearings Recently, China Chamber of Commerce for Machinery Equipment(CCCME) convened emergency meeting in Beijing, discussing how to respond to the prospective anti-dumping investigation that Russia will issue. Representatives from Ningbo Cixi Imp & Exp Company and Zhejiang Fuda Bearing Co.,Ltd attended this meeting. This case will be the second one this year, since the Ukrain anti-dumping case in Feburary. For this Russian anti-dumping case, value involved hit more than USD17 million. As was informed from Administration of Quality Supervision, Inspection and Quarantine in Cixi city: As a small bearing exporter to Russia, Cixi earned foreign exchange of USD3.91 million last year; and during the first three quarters this year their export have increased to USD7.97 million, 103% higher than the corresponding period prior year. Only Zhejiang Fuda Bearing Co.,Ltd export over USD1 million worth's bearings to Russia. According to analysts, Russia, an rising exporting destination, can greatly influence other East European exporting destinations. And given the connection between bearings and auto parts, anti-dumping on bearings will surely impact trade of auto parts. Therefore, if Russia issued anti-dumping duty on Chinese bearings, domestic exporters of auto parts would also be influenced.

(cbcc-yinx)

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