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The Cotton Import And Export Tariff Rate Was Adjusted To 7.0402 In May 2020.
The people's Bank of China authorized the China foreign exchange trading center to announce that the RMB exchange rate in the interbank foreign exchange market in April 15, 2020 was RMB 1 yuan =7.0402 yuan, so the customs exchange rate of imports and exports in May 2020 will be calculated at US $1 =7.0402 yuan. Look forward to the import and export business of cotton and textile enterprises. (April 2020 was 7.0328)
According to the 2005 Announcement No. fifty-third issued by the General Administration of Customs in October 30, 2005, the rate applicable to import and export cargo tax rates for each month is third Wednesday on the previous month (third Wednesday is a statutory holiday, and fourth Wednesday is postponed).
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