BEIJING — China's recent decision to curb exports of laborintensive, low-cost products including garments, plastics and certain types of yarns by requiring export deposits could dampen the country's burgeoning and politically sensitive trade surplus with the U.S., officials say. The Chinese Ministry of Commerce had developed a list of more than 1,800 product categories subject to costly new export hurdles, which took effect last week. The categories include certain types of garments, furniture, plastics and textiles. When the regulations go into effect, importers will be required to front a refundable deposit of 50 percent of the value of their trade taxes on the products bound for export.
"The policy is not just an attempt to regularize the management of the process trade, but a step to promote the sector's healthy and sustainable development in the long run," He Li, an offi cial with the China General Administration of Customs, was quoted as telling the State-run Xinhua news service.
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