July 8, 2008

 

China to require reporting on imports for six agricultural products

   
  

Imports of six bulk agricultural products into China is to be reported to the authorities, according to a measure released by the Ministry of Commerce recently.

 

The six products are soy, rapeseed, soyoil, palm oil, rapeseed oil, and soymeal.

 

Companies are required to report all information related to the import of the six agricultural products as soon as possible.

 

Companies providing false information, delayed their reports or failed to submit will be reported to the National Bureau of Statistics.

 

Companies which flout the rules will get warnings and be liable for up to RMB 50,000 in fines.

 

Such companies can also be banned from trading for a year to three years.

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