WTO...YEAR 4

Four years into China's World Trade Organization (WTO) membership, China's increasing integration into the global trading system has meant that members are responding more to China's active engagement on WTO issues. In April 2004, the Ministry of Commerce (MOFCOM) issued a law and reg...

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Bibliographic Details
Published in:The China Business Review 2005-01, Vol.32 (1), p.24
Main Author: Walton, Julie
Format: Article
Language:English
Subjects:
Advertising agencies
Distribution
Foreign investment
Freight forwarding
International trade
Market economies
Regulation
Statistical data
Tariffs
Textiles
Trade policy
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Summary:Four years into China's World Trade Organization (WTO) membership, China's increasing integration into the global trading system has meant that members are responding more to China's active engagement on WTO issues. In April 2004, the Ministry of Commerce (MOFCOM) issued a law and regulations that laid out the framework for opening trading and distribution rights to all foreign companies by the WTO deadline of December 11, 2004. Numerous concerns across a wide variety of sectors remain unaddressed, however. MOFCOM has yet to release rules that would implement the distribution regulations allowing foreign investment in retail, wholesale, and warehousing. Another unresolved issue is whether companies will be required to establish independent subsidiaries to distribute products outside the scope of business defined in their existing business licenses. Nor have there been regulations detailing distribution procedures for pharmaceuticals. China has indicated that it plans to use WTO rules to further its own trade and economic goals.
ISSN:0163-7169
1542-5681