/javascript" src="../static/js/analytics.js"> CalTrade Report - China To Expand Trade Rights China, CalTrade Report, National People'../">CalTrade Report Asia Quake Victims 12/27/03 Under the draft amendment to the Foreign Trade law submitted to the National People's Congress in Beijing, all individuals, legal entities, and organizations will be permitted to participate in foreign trade activities; move prompted by WTO entry. - 12/27/03 Under the draft amendment to the Foreign Trade law submitted to the National People's Congress in Beijing, all individuals, legal entities, and organizations will be permitted to participate in foreign trade activities; move prompted by WTO entry. - China To Expand Trade Rights China, CalTrade Report, National People'../i/shim.gif

 

Tuesday, June 13, 2006

 

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China To Expand Trade Rights

Non-state firms will be able to import, export

BEIJING - 12/27/03 - Trade rights in China, once the preserve of powerful state monopolies, are to be extended to individuals under proposed legislation prompted by the country's entry into the World Trade Organization, reports the Dow Jones Newswire.
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Previously, the agency said, "jealously guarded trading rights were issued to state firms that many felt stifled competition for imports, as well as reduced domestic companies' access to export markets."

However, trading rights have gradually been extended to a much wider range of companies as part of China's market reforms.

Under the draft amendment to the Foreign Trade law submitted to the National People's Congress, China's top legislature, all individuals, legal entities and organizations can take part in foreign trade, said the official Xinhua News Agency.
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The decade-old Foreign Trade Law currently prohibits individuals from undertaking foreign trade.
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In September, the Ministry of Commerce canceled a requirement that a domestic company be established for at least one year. However, local companies must meet a minimum registered capital requirement to qualify for trading rights.
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The draft amendment brings the foreign trade law into line with a commitment to the WTO to allow foreign individuals in China to engage in cross-border trade.
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"Since foreign individuals will be allowed to undertake foreign trade in China, Chinese individuals should be granted the same right," Ministry of Commerce Vice Minister Yu Guangzhou told the opening session of the standing committee of the National People's Congress.
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The standing committee meets regularly each year to consider proposed legislation in between the annual 10-day sitting of the full National People's Congress.
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The draft will be discussed at group meetings in the next few days and is expected to be passed next year, according to the Xinhua report.

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WASHINGTON, DC – 06/13/06 – Rebounding from the failure to craft a Free Trade Area of the Americas pact, the Bush Administration is aiming at strengthening trade ties with Brazil in an effort to counter China’s fast-growing economic influence in Latin America; China should not only be seen as an export market with 1.3 billion consumers, but also as a nation of 1.3 billion ''new competitors,'' says US Secretary of Commerce Carlos Guittierez.


US Threatens WTO Action Against China

WASHINGTON, DC – 06/10/06 – The White House is threatening to slap China with a World Trade Organization case unless Beijing responds quickly to US concerns over its lack of action on securing intellectual property rights for US products; talks on bringing the WTO case are at a ''very advanced stage,'' according to a high level official in the Office of the US trade Representative.


High Hopes for Central American Trade Pact

WASHINGTON, DC – 06/08/06 – The US -Central American Free Trade Agreement (CAFTA) still faces some hurdles, but could become a reality ''very soon,'' according to Deputy Secretary of State Robert Zoellick; the issues relating to government procurement, intellectual property rights and agriculture still need to be worked through, says the former US Trade Representative following a session of the Organization of American States (OAS) General Assembly in Santo Domingo, Dominican Republic.





 

 


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