November 15, 1999
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(1) Agricultural products
The agreement agreed to improve market access for a variety of American export products and remove obstacles. Including:
Significantly reduce tariffs, completed before 2004 1. Generally speaking, the average tariff of agricultural products has dropped to 17%, and the priority products in the United States are 14.5%.
Establish a tariff rate quota system (TRQ) for the import of a large number of commodities such as wheat, corn, cotton, barley and rice, and private businessmen can also share the TRQ.
The right not to import and distribute products through state-owned trading enterprises or middlemen.
China agreed to lift the SPS barrier without scientific basis and stop giving agricultural export subsidies.
(2) Industrial products
China promised to remove a series of institutional barriers to American exports, such as quotas and licenses that restrict the import of American products.
(3) tariffs
The overall average tariff is 9.4%, and the priority products in the United States are 7.1%.
China will join the Information Technology Agreement (ITA) and cancel all tariffs on computers, telecommunications equipment, semiconductors, computer equipment and other high-tech products.
For the automobile industry, China will reduce the tariff from the current 100% or 80% to 25% before 2006, and the biggest reduction will be in the first few years after China's entry into WTO.
Before 2006, the tariff on auto parts will be reduced to 10% on average.
China will also significantly reduce the tariffs on wood and paper industries, from the current wood 12%- 18% and paper 15%-25% to about 5%-7.5%.
China will also implement most of the elements of the Harmonized Chemicals Initiative. According to the initiative, tariffs on various products will be 0%, 5.5% and 6.6%.
(4) Quotas and licenses
Quota: China will lift the existing quota restrictions on the entry of US priority products (such as optical cables) into the China market. China will gradually phase out the remaining quotas, about before 2002, but not later than 2005.
In order to ensure the gradual improvement of market access and reduce the impact of quantitative restrictions, the current trade quota will increase at the rate of 15% per year.
The automobile quota will be phased out in 2005. During this period, the basic quota was US$ 6 billion (ahead of China's automobile industry policy level), increasing by 65,438+05% every year until the quota was cancelled.
(5) Import and distribution rights
According to the agreement, China will provide trading rights and distribution rights to American companies for the first time. Trade rights will be gradually implemented in three years. Distribution rights will be implemented in the most restrictive distribution industries in China, such as wholesale, transportation and maintenance.
(6) Service field
China agreed to cancel most restrictions on foreign equity in all important service industries after a reasonable transition period, and agreed to join the Basic Communication and Financial Services Agreement, without restricting American service providers from entering the current market.
China will not restrict the existing market access and activities of all service industries. Including wholesale, sales, retail, maintenance and transportation outside the fixed location. China will gradually lift the restrictions on the distribution services of most products within three years.
(7) Auxiliary power distribution service
China's commitments in auxiliary distribution services include leasing, express delivery, cargo storage and transportation, warehousing, advertising, technical inspection and analysis, and packaging services. This restriction will be phased out in 3-4 years.
(8) Telecommunications
For the first time, China agreed to open its telecommunications field, allowing a wide range of services and direct investment in telecommunications services. Therefore, China will become a member of the basic telecommunications protocol.
Management principle-China agrees to implement the management principle of supporting competition contained in the Basic Telecommunication Agreement, and agrees to the technology-neutral arrangement plan, which means that foreign suppliers can use any technology they choose to provide telecommunication services.
Scope of service-China will gradually remove all geographical restrictions on paging and value-added services within two years, mobile phones within five years and domestic telephone lines within six years. The main telecom service channels in Beijing, Shanghai and Guangzhou, which account for about 75% of domestic telecom exchanges in China, will be opened to all telecom service providers immediately.
Investment-China will allow foreign investment to account for 49% of all telecommunications services, and after two years of value-added services and three years of paging services, the ownership of foreign investment will reach 50%.
9. Insurance
According to this agreement:
Geographical restrictions-Foreign-funded property insurance and life insurance companies can immediately carry out insurance business for high-risk projects in China, and cancel all geographical restrictions in future business licenses within five years, allowing the United States to enter major cities with important interests in China within two to three years.
Scope-China will gradually expand the business scope of foreign-funded insurance companies within five years to include collective, health and endowment insurance businesses, which account for 85% of the total premiums.
Principle of consultation-China agrees to issue insurance business licenses only on the basis of the principle of consultation, and there is no need for economic review or qualification restriction on the number of licenses.
Investment-China agreed to allow foreign investors to own 50% of the shares, cancel the cumbersome requirements for joint ventures of foreign life insurance companies, and gradually lift the restrictions on setting up branches in China. Foreign life insurance companies can choose their own partners. In terms of non-life insurance, China will allow foreign insurance companies to expand their business or jointly own 5L% shares and establish wholly-owned subsidiaries within two years. Reinsurance business can be fully opened with consent (100%, unlimited).
(10) Bank
China agreed to give full market access to American banks within five years.
Two years after China's entry into WTO, foreign banks will be able to conduct RMB business with China enterprises.
Five years after China's entry into WTO, foreign banks will be able to conduct RMB business with China residents.
Eliminate geographical restrictions and customer restrictions within five years.
China will allow a few foreign joint ventures to participate in fund management under the same conditions as China enterprises. With the expansion of business scale in China, foreign joint venture bond companies will enjoy the same business expansion. A few joint ventures will be allowed to underwrite domestic securities and underwrite and trade securities denominated in foreign currencies (bonds and common stocks).
(1 1) professional services
China has provided a wide range of commitments in the agreement, including legal, accounting, taxation, management consulting, construction, engineering, urban planning, medical and dental services and computer-related services. China will allow foreign professionals to enter the China market in a highly transparent way.
(12) Audio-visual services
In terms of video recorders and tape recorders, China will allow foreign countries to hold 49% shares in these joint ventures. China also agreed to import 40 films after admission, and gradually increase it to 50 films within three years, of which 20 will share the benefits.
(13) Tourism
Hotels-China will allow operators who have the ability to build 65,438+0,000% foreign-funded hotels to enter the market without restriction for three years, and will be allowed to own most of the shares after admission.
(14) terms of the agreement
China agreed to implement the TRIPS Agreement immediately from the date of its accession to the WTO, and to cancel and stop the implementation of the provisions on trade and foreign exchange balance, the provisions on local satisfaction and the contracts for implementing these provisions; Only promulgate or implement laws or other regulations related to the transfer of science and technology or other knowledge.
(15) Anti-dumping and subsidy methods
The United States and China agree that the United States can maintain its current anti-dumping method (regarding China as a non-market economy country) in the future when it encounters anti-dumping cases, without encountering legal challenges. This clause will remain valid after China's accession to the WTO.
(16) product special protection
China is a big exporter and enjoys the freedom to enter the American market. This clause only allows the United States to adjust its imports from China. In addition, the United States can impose unilateral restrictions according to legal standards lower than WTO security agreements. The provisions of the Agreement on Special Protection of Products shall remain valid for 12 years after China's accession to the WTO.
(17) state-owned and state-invested enterprises
China agreed to ensure that state-owned and state-invested enterprises only purchase and sell on the basis of commercial considerations (such as price, quality and market competitiveness), so that American companies have the opportunity to compete in sales and procurement without discrimination.
China also agrees that it will not (directly or indirectly) influence the business decisions of these enterprises, except in a manner consistent with WTO regulations. In order to respect the WTO regulations on state-owned and state-invested enterprises, these enterprises must abide by WTO discipline.
The purchase of goods and services by these enterprises does not constitute "government procurement", so they must abide by the relevant provisions of the WTO.
(2) According to the WTO Agreement on Subsidies and Compensation Measures, the status of these enterprises is clarified.
(18) textiles
China's agreement plan will include the relevant provisions in the 1997 bilateral textile agreement, which allows American companies and workers to cope with the increase in textile and clothing imports. This self-defense measure against textiles will last until June 65438+February 3, 20081,that is, after the expiration of the WTO Agreement on Textiles and Clothing.