The Ministry of Commerce (MOFCOM) announced Wednesday it will levy 23.5 percent and 23.6 percent anti-dumping duties on Fuji Film's Europe and U.S. units with immediate effect, according to a statement the ministry posted on its website.
The units of the Japan-based multinational photography and imaging company evidently dumped their photo paper in the Chinese market during the investigation period, the MOFCOM noted.
"It's not trade protectionism, it's legally protecting the country's interest," said He Weiwen, co-director of the China-U.S./EU Study Center at the China Association of International Trade.
Experts said that such dumping will directly cause material injury for domestic producers of photo paper.
"If the company follows the order from MOFCOM, then it should pay certain duties for the dumped products. If not, the government where Fuji is based can refer the case to the WTO," He told the Global Times on Wednesday.
Since 2000, the global market for photo paper has been hit by the use of digital cameras, with demand down 20 percent to 30 percent each year, domestic news portal cinic.org.cn reported in May.
Given the situation, the advantages for Fuji Film have disappeared, the report said.
Fuji Film aims to generate $23.18 billion in revenue during its 2016 financial year, up 2.3 percent over the prior period, and an increase of 15.1 percent in operating profits to $2 billion, according to media reports.
The company's 2016 financial year ends in March 2017.
The company could not be reached by the Global Times as of press time.
