China to exempt some commodities imports from licence requirements
HONG KONG Aug 28 (Reuters) - China will do away with licence requirements for imports of some commodities, including refined copper, stainless steel and natural gas, from September 1 as part of broader moves to cut red tape and open up its commodities markets.
Products exempt from the import license requirement also include semi-finished copper products, scrap copper, scrap aluminium, steel, steel products and some agricultural products, according to a statement posted on the Ministry of Commerce website on Tuesday. (www.mofcom.gov.cn)
Traders said the move will have a limited impact on the copper market as such licenses are already being issued promptly after a company produces a supply contract for the metal.
"The new policy just means that importers will save two to three days time to process the imports," an importer of refined copper in Shanghai said.
China is the world's top consumer of copper, and of several other commodities.
To see the full list of commodities, click:
here (Reporting by Polly Yam; Editing by Muralikumar Anantharaman)
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