Notice On Exchange Rate Adjustment Of Cotton Import And Export Tariff (August 2020)
Turnover inventory continues to decline (June 2020)
The people's Bank of China authorized the China foreign exchange trading center to announce that the middle rate of RMB exchange rate in the inter-bank foreign exchange market on July 15, 2020 is: 1 US dollar = 6.9982 yuan RMB, so the tariff rate of import and export goods in August 2020 will be calculated as 1 US dollar = 6.9982 yuan RMB. We look forward to the attention of cotton and textile enterprises with import and export business. (July 2020: 7.0873)
According to the Announcement No. 53 of 2005 issued by the General Administration of Customs on October 30, 2005, the applicable exchange rate for the tax rate of import and export goods is the foreign exchange conversion rate of the Bank of China on the third Wednesday of the previous month (if the third Wednesday is a legal holiday, the fourth Wednesday shall be postponed).
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