U.S.-China Trade: Summary of 2003 World Trade Organization Transitional Review Mechanism for China Page: 22 of 101
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Summary of issues by theme Raised by Raised by China's response
United other WTO
prescribed some requirements on experiences
and registered capital for both Chinese and
foreign parties of the joint venture. In addition,
"Sino-foreign joint venture" referred to in the
Interim Rules included joint ventures solely
engaged in import and export business and
wholesale of imported products, as well as
other types of enterprises, which applied for
the operation of such businesses and satisfied
the requirements of the Interim Rules.
Elimination of the requirement for prior
experience and minimum capital when
granting trading rights.
According to China's commitments upon
accession, China would eliminate the system
of examination and approval of trading rights
within three years from accession. At that
time, China would permit all domestic and
foreign enterprises and individuals, including
sole proprietorships of other WTO Members, to
export and import all goods (with the exception
of products listed in Annex 2A of the Protocol
reserved for importation and exportation by
state trading enterprises) throughout the
customs territory of China. Trading right in this
context only referred to the right for importation
and exportation, not including the right of
distribution in China. (Verbale)
Time frame for adopting definitive EC -
legislation and information on its scope. Writtenb
Quotas and tariff-rate quotas
Large parts of automobile and fertilizer EC - With regard to the alleged problem of license
quotas not allocated to genuine Writtenb trade, i.e. selling quota for profit, such practice
importers but to other parties not was against the Chinese law and subject to
involved in import activities. severe punishment. China hoped that
Members would provide relevant information
and evidence on this illegal trade. His
authorities would deal with the offenders
according to the law and slashing their quotas
for the next year. (Verbale)
Transparency issue-assurance that full EC - In strict accordance with their commitments
quantity of auto and fertilizer quotas and Writtenb upon accession and the Regulations on the
tariff-rate quotas are allocated to Administration of Import and Export of Goods
genuine importers. of the People's Republic of China, his
GAO-05-209R U.S.-China Trade
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United States. Government Accountability Office. U.S.-China Trade: Summary of 2003 World Trade Organization Transitional Review Mechanism for China, text, January 25, 2005; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metadc301428/m1/22/: accessed May 26, 2019), University of North Texas Libraries, Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.