China's Chamber of Commerce for the Import and Export of Textiles is in the process of setting out regulations to prevent unruly export competition according to local newspaper reports.

New rules could mean minimum pricing for sensitive exports, as well as a blacklist of companies who export below the prices, China Daily quoted CCCT chairman Wang Shenyang as saying.

Wang also said some companies would lose their trading rights.

The Chinese textile industry and government are both attempting to alleviate international fears that China will further monopolise the world market now that quotas have been scrapped.

An automatic license system for textile exports came into force yesterday, which aims to improve the analysis and monitoring of China's overseas shipments.