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This report contains notes taken by U.S. Mission China staff during two recent outreach sessions conducted by a surrogate(s) for the General Administration of Customs of the People’s Republic of China (GACC) on Decrees 248 and 249.
As international rice prices gained competitiveness over Chinese rice prices, significant import volumes have entered China since November 2020.
On September 29, 2021, the General Administration of Customs of the People’s Republic of China (GACC) transmitted a letter regarding Decree 248 to the U.S. Embassy in Beijing, China.
With the China Cotton Index (CC Index 3128B) price surging 58 percent from its August 2020 level to RMB 20,150 (or, approximately U.S. $3,100) per metric ton (MT) on October 8, 2021, the Chinese government (PRC) is taking steps to rein in prices.