Chinese cotton buyers apparently expect an end to the unofficial import ban on goods from Australia. Companies have already been importing cotton back into tariff-free zones at Chinese ports for months, Reuters reported Tuesday. For example, the Australian subsidiary of China National Cotton Group Corporation (CNCGC), one of China’s largest state-owned cotton buyers, is shipping cotton to a bonded warehouse in Qingdao, among other places, Reuters quoted CNCGC trader Tom Zheng as saying. If the ban is lifted, the cotton can then be sold immediately on China’s domestic market. If not, the goods could just go into re-export, he added.
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