September Cotton Import and Export Tariff Rate Adjustment

According to the People's Bank of China, the exchange rate of US dollar against *** Bank of China on Wednesday, August 17, 2011 (Wednesday) was 1 US dollar against 6.3996 yuan***, so the import and export tariff rate of September 2011 will be Calculated by 1 USD = 6.3996 RMB***. Look for cotton and textile companies that have import and export business. (It was 6.4592 in August)

Pursuant to Notice No. 53 of 2005 issued by the General Administration of Customs on October 30, 2005, the exchange rate applicable to the tax rate of goods imported and exported each month is the third Wednesday of the previous month (the third Wednesday is a statutory holiday, Subsequent to the fourth Wednesday, the Bank of China's ** discounted price (referred to as the Bank of China discounted price).