13/12/05 (Xinhua)  -  From Jan. 1, 2006, China will abolish the import quota and trade control on bean oil, palm oil and cole-seed oil, the Ministry of Commerce announced on Monday.

The action is based on China's commitment to the World Trade Organization, the ministry said.

According to a statement recently issued by the ministry, previous regulations on management of imported farm produce tariff concerning above-said three kinds of oil will be annulled accordingly.

Under China's foreign trade law, the country will begin practicing voluntary import licence system on bean oil, palm oil and cole-seed oil from Jan. 1, 2006, the ministry said.

Source: Xinhua