What has changed after the 2015 WTO China spent fifteen years of protection?
1, tariff cuts. Comprehensive tariff reductions, the average tax rate is reduced to 17% from the 221%; agricultural tax for five years reduced to 145-15%; abolish all export subsidies.
2, open agricultural markets. Wheat, corn, rice and cotton, the implementation of “proportional tariff quota system” in order to open their markets; gradually undone by the state-controlled trade of soybean oil.
3. restrictions on US exports (including textiles) surge. Special provisions controlling China’s export goods in the surge of the elimination of quotas valid for 12 years; other overseas countries to ban Chinese dumping provisions valid for 15 years.
4, open the retail market. More open to foreign companies and service distribution rights.
5, open professional services. Open to foreign companies professional services including legal, accounting, medical and so on.
6, open audio and video products market. Allow more foreign film imports, a minimum of 20 per year, lower than the current double.
7, open the auto industry. Automobile tariffs phased reduction from the current 80-100% per year in 2006 to 25 per cent; allow US organizations to provide car loans.
8 liberalization of the telecommunications industry. Liberalization of the telecommunications market to foreign investors, allowing foreign investors in the field of telecommunications services holding 49% stake, and 2 years later increased to 50%; foreign Internet market may be fully invested.
9, open the banking sector. After joining WTO 2 years of foreign banks can handle RMB business for Chinese enterprises, after joining WTO 5 years of full liberalization.
10, open the securities industry. Allow foreign ownership of financial companies in the fund management company 33%
2015 China must open businesses
Allow foreign investment into China in all sectors, including the current state-controlled mining, transportation, direct marketing and so on.
WTO protection period ends, are you ready?
Author: By on August 24th, 2017 – Update
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