Taking up an issue raised during bilateral talks with the United States last fall, China is proposing the NVO bond rider be raised from $96,000 to $122,000 because of changing exchange rates, saying the current amount is inadequate.
China is also proposing that the dollar amount of the bond rider be adjusted when the exchange rate between dollar and the Chinese renminbi fluctuates more than 20 percent.
The U.S. Federal Maritime Commission has issued a notice of inquiry asking for comments on the proposal. Responses are due by July 15.
