A list of the major commitments China has fulfilled in the third year of its accession to the WTO in 2004

Introduction: new page 1 Main commitments of China in the third year of WTO accession 8zk In the third year of China's accession to the WTO, according to the protocol and the report of the working group on China's accession to the world trade organization, in addition to continuing to implement the commitments of the first two years, China should also implement new commitments in terms of trade in goods, trade in services, distribution services, financial services, travel agencies and tourism services, and transport services 8zk in 2004, China fulfilled the following major commitments: 8zk 1 Commitments on goods trade 8zk 1 Foreign trade operation right 8zk 1 The minimum registered capital of wholly-owned Chinese enterprises obtaining foreign trade operation right was reduced to 1 million yuan (China has fulfilled its promise in advance on August 1, 2003) 2 The joint venture with the majority share of foreign capital obtains the full foreign trade operation right 8zk (2) in the commodities of state-owned trade, the proportion of crude oil and oil products imported by non-state trading companies increased by 15% on the basis of 2003 8zk (3) import tariff 8zk China's accession to the WTO protocol on tariff schedules for agricultural and industrial products has reduced the total tariff level from 11.5% in 2003 to about 10.6% in 2004 There will be more than 3000 kinds of imported goods with tariff reduction to varying degrees according to the commitments, and some imported goods such as information technology products will be reduced to zero tariff 8zk (IV) quota and license management 8zk 1 Cancel import quota, import license and import bidding of some commodities 8 ZK 2 Increase the growth rate of commodity import quota Increase the import quota of cars by 15% 8 ZK 3 Adjust the tariff, quota and non-state trade proportion of tariff quota commodities 8zk 2 Commitments of service trade 8zk (1) communication services 8zk domestic and international basic telecommunication services: it is allowed to set up Sino foreign joint ventures in Guangzhou and Beijing, without quantitative restrictions, and provide services within or between the above cities, with the proportion of foreign investment not exceeding 25% 8zk (2) construction and related engineering services 8zk construction and related engineering services: the establishment of wholly foreign-owned enterprises is allowed 8zk (3) financial services 8zk 1 Banking RMB business: in addition to 12 cities such as Shanghai that have promised to open, Kunming, Beijing and Xiamen will continue to open, allowing foreign financial institutions to provide local currency services to Chinese enterprises Securities service: among the Chinese and foreign joint ventures engaged in domestic securities investment management business, the proportion of foreign investment can reach 49% Foreign securities companies are allowed to set up joint ventures, and the proportion of foreign investment shall not exceed 1 / 3 Joint ventures can (without Chinese intermediary) engage in the underwriting and trading of a shares, B shares and H shares, government and corporate bonds, and the initiation of funds 8zk 2 Insurance industry 3 Life insurance: remove the geographical restrictions and allow joint venture life insurance companies to provide health insurance, group insurance and pension / annuity insurance services to foreigners and Chinese citizens Non life insurance: remove geographical restrictions Insurance brokers: remove geographical restrictions The proportion of foreign investment shall not exceed 51% Reinsurance and statutory insurance: the proportion of compulsory reinsurance is 5% 8zk (4) travel agencies and tourism services 8zk allow foreign investors to own majority shares (China has opened up in advance) (Zhang Diji) 8zk what will happen to China's economic life in the third year after its accession to the WTO? Today is the day of China's accession to the WTO for the whole two years and the starting point of China's accession to the WTO for the third year According to the commitment of our government, China will take a big step in market opening What new changes will this bring to our economic life? According to the Announcement No 37 of the Ministry of Commerce of the people's Republic of China this year, the total amount of China's automobile import quota will be 10.494 billion US dollars next year Experts in the industry believe that the new quota may be mainly used for the import of key parts and complete sets of spare parts of automobiles, and the import volume of complete automobiles will not increase much, so the impact of imported automobiles on domestic automobiles is still limited After the cancellation of import quota in 2005, the price of imported vehicles will be reduced, and the decrease will be larger than before Therefore, for domestic cars, the real test has not yet come But there is not much left for domestic automakers According to the China Banking Regulatory Commission, after the release of the detailed rules for the administration of auto financing companies, three applications have been submitted by SAIC General Motors finance, Toyota Motor Finance (China) and Volkswagen financial (China) company It is expected that by the end of next year, foreign auto financing companies waiting for many years will be able to officially carry out auto credit business in China, which will have a huge impact on the main body of domestic auto loan market, namely major commercial banks 8zk currently accounts for 70% of the world's nearly 140 million US dollars in auto sales every year Foreign auto financial institutions relying on transnational auto giants have a set of mature business operation mode, and the operating profit can account for 25-40% of the total profit of auto group Opening the auto financial service market will help to improve the development level of domestic auto loan industry In the face of the huge potential of China's auto loan market, foreign financial institutions have long coveted it, hoping to start business in China as soon as possible 8zk industry experts believe that foreign auto financing companies entering China must solve the problem of localization operation, and also face the problem of risk control, so it is difficult to become the mainstream of auto loan market in the short term In the future, domestic commercial banks and foreign auto financing companies will form a relationship of competition and cooperation to jointly expand the domestic auto loan market Mengwei, a reporter from 8zk, a six joint-venture insurance institution that will carry out business in Beijing, reported that the removal of regional restrictions on foreign investment will become a sign of the opening up of the insurance industry next year The reporter learned from relevant aspects that foreign investment can choose free investment regions At present, at least six joint-venture insurance institutions need to enter the Beijing market to carry out life insurance, property insurance and other businesses Xu Shuijun, general manager of AIA's Beijing Branch, the first wholly foreign-owned insurance company in Beijing, said: "the insurance market in Beijing will be more competitive next year Foreign companies will not only bring technological advantages, but also improve service and experience sharing " He also revealed that in 2004, AIA will speed up its life insurance business in Beijing and its service agencies will double The 8zk foreign-funded travel agency wants to land First of all, it is committed to inbound tourism Meng Wei, a reporter from 8zk, reported that allowing foreign investors to own a majority stake was the third year of China's accession to the WTO Now this commitment has been realized in advance On December 1 this year, not only the first foreign-owned travel agency was announced to be established, but also the first wholly foreign-owned travel agency was listed in Beijing on the same day "The joint venture will first focus on inbound tourism," said Martin biser, chief executive of China's first foreign-owned travel agency, China Travel e-Travel Co., Ltd At present, there are 40000 tourists coming to China through Tui, which will soon reach 100000 At the same time, the new company will also be involved in domestic tourism " In addition, international large-scale tourism enterprises are optimistic about the prospect of China's tourism industry, and have decided to set up companies in Beijing, Shanghai and other places It is reported that JTB, Kinki, his and other large Japanese travel agencies have also submitted applications to China From next year, China will allow foreign enterprises to operate domestic and international basic telecommunication business in Beijing and Guangzhou or between the two cities in the form of establishing Sino foreign joint ventures Reporters recently asked the relevant people of the Ministry of information industry that the Ministry of information industry is stepping up the formulation of relevant policies The new policy is expected to be introduced at the beginning of next year, when the prospect of foreign telecom giants entering the domestic telecom operation market will be more clear Although no foreign companies have made it clear that they will be involved in domestic basic telecom business, these telecom giants have been in frequent contact with domestic telecom operators In this year, global telecom giants such as Vodafone, a British mobile communication giant, NTT DoCoMo, a Japanese Telecom pioneer, and at & T, a famous American company, have all worked together to develop telecom value-added services or capital operation to boost the domestic telecom market 8zk imported IT products have zero tariff, and the price of it consumer goods has dropped Reporter Zhou Jiansen reports: according to the relevant people of the Ministry of information industry, the catalogue of goods with zero tariff from next year will be officially announced in the near future An official from the Ministry of information industry told reporters that information technology is one of the earliest industries in China to connect with the world, including Nokia, Toshiba, HP and other foreign brand IT products, most of which have realized localized production and assembly, so it is unlikely that the price will be affected by tariffs In addition, the reporter also learned that although some parts of Sony, Motorola and other foreign brands' products are still mainly imported, but their proportion in the whole machine is limited, so it is difficult to impact the market price Despite this, it consumer goods will continue to decline in general next year The head of Sony analyzed that this was mainly affected by the growing prosperity of China's IT market As more and more products are put on the counter, Chinese consumers will buy more products with high cost performance 8zk foreign enterprises have stepped into the domestic market faster and faster, and domestic enterprises have also made a calm response The head of Lenovo said that as early as 1995, domestic IT enterprises had launched fair competition with foreign competitors, so the implementation of zero customs duty on imported goods next year will not impact domestic enterprises At the end of next year, enterprises in Beijing will be able to handle RMB deposits and loans in foreign banks This means that the business scope of foreign financial institutions in Beijing will be further expanded At present, there are 22 branches and more than 90 representative offices of foreign banks in Beijing This number will continue to increase as Beijing opens some RMB businesses to foreign investors next year With the entry of foreign financial institutions into Beijing, the operation mechanism and management mode of modern banks will be displayed to promote the development of Beijing banking industry in competition 8zk