March 2012 Cotton Import and Export Tariff Rate Adjustment Notice

The People's Bank of China authorized the China**** Center to announce that on February 15, 2012, the inter-bank exchange rate of the interbank market was: US$1=6.2958 yuan***, so the customs exchange rate of import and export goods in March 2012 Will be calculated as $1 = 6.2958 yuan***.

Look for cotton and textile companies that have import and export business. (February 2012 was 6.3205)

Pursuant to Notice No. 53 of 2005 issued by the General Administration of Customs on October 30, 2005, the applicable exchange rate for the import and export goods tax rate for each month is the third Wednesday of the previous month (the third Wednesday is a statutory holiday, Subsequent to the fourth Wednesday, the Bank of China's ** discounted price (referred to as the Bank of China discounted price).

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