China will scrap self-imposed tariffs on textile exports next year, according to Finance Minister Jin Renqing.

Jin said that China will keep its flexible import tariff for cotton goods that exceed the import quota. 

He pointed out that there would be double restrictions on manufacturers and exporters if it didn't scrap tariffs as it has signed deals with the US and the EU to limit textile exports.

All current tariffs on textiles will be removed on 1 January.

According to Jin, the tariff it imposed earlier this year was aimed at protecting the equilibrium of the global textile system.