Roundup: China Implements WTO Promises Steadily

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Last updated at: (Beijing Time) Thursday, April 11, 2002

Roundup: China Implements WTO Promises Steadily

The Chinese government is making swift progress in implementing its commitments to the World Trade Organization (WTO) since its accession at the beginning of 2002. Besides, China has rectified and relinquished laws and provisions that are contradictory to WTO rules.

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China implementing its commitments to WTO

The Chinese government is making swift progress in implementing its commitments to the World Trade Organization (WTO) since its accession at the beginning of 2002.

In accordance with the set timetable, China has gradually pushed on with its work concerning tariff reduction, reforming administrative approving systems and improving transparency.

In January, China cut its import tariff from 15.3 percent to 12 percent, among which the industrial products average tariff rate fell from 14.7 percent to 11.3 percent, and farm goods rate (aquatic products excluded) dropped from 18.8 percent to 15.8 percent.

In regard to non-tariff measures, from January 1, China canceled quota license management of grains, wool, cottons, some chemical products and fertilizer. New regulations and temporary provisions have come out for future quota management.

China rectifies laws and provisions

Besides, China has rectified and relinquished laws and provisions that are contradictory to WTO rules. New regulations on anti-dumping, anti-subsidy and safeguard measures have taken effect since the first day of 2002.

With overseas law offices, telecommunication enterprises, financial organizations, international ocean shipping, audio products companies and travel agencies concerned, China has also promulgated new laws and provisions authorizing foreign-funding of service trades.

An official from the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) said China will formulate more detailed regulations including temporary provisions managing foreign-funded enterprises and rules concerning joint stock venture authorization.

As intellectual property right is concerned, China is now modifying detailed rules of the trade mark law, copy right law and medicine management laws, so as to meet the demand of relevant WTO rules.

The legislative branches have adjusted the three laws on joint-ventures, cooperative enterprises and foreign-funded corporations, as well as their corresponding detailed rules.

Those rules involving foreign exchange balances, local proportions, export performances as well as the special high fee and double standards in charging foreigners have been changed.

In the field of transparency, the China-WTO Notification Enquiry Center under MOFTEC began its work upon the first day of China's joining the world trade body, providing WTO-related information for the public.

As a responsible country and a WTO member, China is both confident and capable of strictly implementing undertakings made during entry negotiations in line with the set timetable, said MOFTEC Minister Shi Guangsheng.

Fulfilling WTO Commitments a Priority

Senior officials said on Sunday the government will make more efforts to fulfill its World Trade Organization (WTO) commitments.

In the coming five years, China will open its goods market, which will provide trade partners a share of US$1.5 trillion. The further opening up of the service and trade market will also bring new fields for foreign investment.

China will continue its WTO commitments and expand areas of opening up step by step, he stressed. In Detail

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