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China to blacklist lawbreaking foreign traders
Latest Updated by 2006-04-13 11:12:06
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China's Ministry of Commerce (MOFCOM) revealed on Monday that this year China will successively publish a blacklist of foreign traders that violate relevant laws and regulations via major media and government websites in an effort to rectify the country's foreign trade order.

MOFCOM Foreign Trade Department Director General Lu Jianhua said, "This measure marks the establishment of the foreign trade blacklist system. MOFCOM will set up special phones and mailboxes for report of foreign trade enterprises that violate relevant laws and regulations. Once the facts are verified, such enterprises will be immediately exposed and bulletined to related law enforcement authorities.

The Provisional Measures on Punishment for Issuing Export Invoices at Artificially Low Prices jointly published by MOFCOM, the General Administration of Customs and the State Administration of Taxation will take effect on April 11. From then on, government authorities will punish foreign traders that issue export invoices at artificially low prices according to law. Those that seriously disturb the foreign trade order will be deprived of up to three years of operating rights.

Lu indicated that MOFCOM will further strengthen enforcement of existing laws and regulations, continue to advocate business integrity and lawful operation to maintain the foreign trade order, and lay a sound environmental foundation for sustainable, healthy development of foreign trade.
Editor: Yan

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