China Revises Laws to Meet WTO Requirements

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Last updated at: (Beijing Time) Thursday, May 02, 2002

China Revises Laws to Meet WTO Requirements

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China has been facilitating legislation in the fields of intellectual property rights, trade in goods and services, investment and transparency, to fulfill its commitments to the World Trade Organization (WTO).

An official with the WTO Department under the Ministry of Foreign Trade and Economic Cooperation ( MOFTEC) said that the nation will soon complete the revision of detailed rules on trademark, copyright and drug administration, which is expected to meet the Agreement on Trade-related Intellectual Property Rights.

Sources with the MOFTEC said China has revised certain laws to protect computer software and layout design in the past two years, and is now drawing a set of regulations on foreign-invested enterprises.

The laws cover a wide range of business, including foreign- invested law firms, telecom companies, financial institutions, insurance companies, international marine firms, Sino-foreign distribution joint venture, and tourism agencies.

A notification and consulting bureau with an authorized expert team was established, to offer consulting services in relation to China's trade in goods and services.

According to the newspaper, China has lowered its tariffs to 12 per cent from 15.3 per cent this year and canceled quota license administration on grain and other materials.

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