SHANGHAI, Jan 31: China said on Saturday that it would extend anti-dumping duties on imports of phenol, a chemical compound used to make some antiseptics, medicines and plastics, from Japan, South Korea, the United States and Taiwan.

The duties had been due to expire on Feb. 1 but will now be extended by as much as a year while the Ministry of Commerce investigates whether removing them would damage domestic industry, the ministry said in a brief statement. China has been levying anti-dumping duties on phenol since 2003 because of complaints that low-cost imports were hurting its industry.

Senior officials from around the world, including Chinese Premier Wen Jiabao, warned at the World Economic Forum this week that the global economic crisis could fuel trade protectionism, worsening the slump.—Reuters