Indonesia has implemented an import quota system for steel products since 2023, which restricts the exports of Chinese companies, especially for metal household products starting with tax code 7323. As a result, Foshan Ever Rising Trading Company Limited has faced significant challenges in the Indonesian market, with major customers discontinuing cooperation due to the inability to obtain quotas. This policy has a profound impact on China's steel exports, prompting companies to seek market diversification, product upgrading and innovation to cope with the risk. The Company will proactively adjust its strategy and expand into new markets in order to maintain its global competitiveness and achieve sound long-term development.
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