3,385 Firms Win Bid for
China Textile Quotas to EU

3,385 textile companies have been selected to share in 18% of China's textile export quotas to the European Union next year, according to the China Ministry of Commerce. The ministry decided earlier that 30% of the China-EU textile quotas for 2006 will be distributed through bidding, of which 60% are allocated at the first round.

It is the result of the first online bidding for next year's quotas set by the European Union.

Nationwide, there are 20,047 companies eligible for joining the bidding, and 6,935 of them have received bidding permission numbers. Of the total of 5,284 companies that bid, 3,385 won contracts.

The bidding move was made upon the request of many textile manufacturers in China for a more transparent and fairer process. It will also help better manage exporters' performance.

Another 12% of the total quotas will go through the bidding process next time. A special committee under the ministry has been set up to take charge of bid invitations. The majority of the export quotas, 70%, are allocated based on textile dealers' shipments from the previous year.

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