In June 2008, The Tariff Rate Of Imported Cotton Was Adjusted To 6.9597.

According to Bank of China, the exchange rate of RMB against foreign exchange in May 21, 2008 was RMB 1 to 6.9597 yuan, so the tariff rate of imports and exports in June 2008 will be 1 yuan = 6.9597 yuan.

According to the new policy of sliding tax in 2008, the import value of cotton duty paid by fixed import tariff is 74.20 cents / pound.

According to the 2005 Announcement No. fifty-third issued by the General Administration of Customs in October 31, 2005, the rate applicable to import and export cargo tax rates for each month is third Wednesday on the previous month (third Wednesday is a statutory holiday, and fourth Wednesday is postponed).

Among them, the RMB exchange rate for the Hong Kong dollar, US dollar, Japanese yen and the euro is the same as the closing price announced by the people's Bank of China on the previous day.

The people's Bank of China announced that since July 21, 2005 at 19 o'clock, China began to adopt a floating exchange rate system. On that day, the US dollar paction price was adjusted to 1 US dollars to 8.11 yuan.