BIZCHINA / Machinery
WTO Commitments
Updated: 2006-04-18 15:01
Machinery Industry's WTO Commitments
In line with the WTO commitments, with respect to tariffs, the average
tariff rate for industrial products in 2002 declined to 11.7 percent and
that for mechanical products declined to 9.6 percent.
With respect to non-tariffs, all quotas and other measures of
quantitative restrictions for mechanical products will be eliminated by
2005. During the transitional period, quotas will continue to be used by
a few imported mechanical products, mainly automobile products, at a
certain rate of decrease per year until they are removed completely.
China will gradually open domestic distribution sectors and grant
foreigners the right to business in China and the right to foreign trade
within three years of the WTO accession.
China will also open the distribution services related to mechanical
products, including commission agents' services, wholesale trade
services, retailing services and franchising services, and after sales
services. On the other hand, the restrictions on regions, quantities and
equity interests for foreign investors to set up distribution enterprises
will be eliminated gradually and the tendering requirements on
non-government procurement will be removed.
In addition, the supports that the government provides after the
accession will be limited to the scope of only adjusting foreign exchange
rate and export rebate. The patents from the west developed countries,
when used by China's machinery industry, must be paid for the license of
the patent. The Government will promptly issue laws, regulations,
judicial decisions and administrative rulings for general recourses
related to imports and exports so as to enhance the transparency of trade
policies.
(For more biz stories, please visit Industry Updates)
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