Nearly 30,000 Chinese textile companies have taken part in the bidding process for export quotas on 21 categories of textiles to the US next year, including knitwear, socks and bras.

The results have now been published on the website of the China Chamber of Commerce for Import and Export of Textiles, which can be accessed by members.

The online bidding process accounted for 18% of all quotas, with quotas in each product category being awarded to the highest bidders.

China has set aside 30% of next year's quotas for public bidding, with the rest being allocated to exporters based on their performance in the past year.
 
Once companies have been awarded quota, they can sign export contracts with importers in the EU or the US.

The quotas are part of a three-year agreement signed between the US and China in November, which restricts the growth of Chinese textile exports by 10-15% in 2006, 12.5-16% in 2007, and 15-17% in 2008.