News
China's ban on Taiwan alcohol costs Taiwan less than NT$1 billion
Finance Minister Su Jien-rong says China's decision to suspend the imports of some Taiwan beer and liquor is expected to cost exporters more than NT$1-billion.
During a meeting of the Legislative Finance Committee, Su said Taiwan sells about NT$3.7 billion in beer and liquor to China annually and that the NT$1 billion was calculated based on records.
The ban on beer and liquor has impacted several of Taiwan's leading suppliers including the Taiwan Tobacco & Liquor Corporation, King Car Food Industrial and Kinmen Kaoliang Liquor.
China has said the shipment ban is related to a new customs registration system which took effect on 1 January of this year.
The finance minister says the Cabinet has held several meetings to discuss the registration system and is now issuing instructions to exporters here on how to respond to the new regulations.
Economics Minister Wang Mei-hua says although many countries have been critical of the new Chinese customs registration system, Beijing has been targeting Taiwanese exporters before those of other countries.
