| China's Foreign Trade Law Amended |
| Monday,April 12,2004 Posted: 15:57 BJT(0757 GMT) |
The Foreign Trade Law of the People's Republic of China was enacted in 1994. It has played a tremendous role in safeguarding foreign trade order and promoting the development of foreign trade. To meet with the developing situation, it was amended in 2003 and passed by a unanimous vote at the eighth meeting of the 10th National People's Congress Standing Committee on April 6, 2004. The newly amended Foreign Trade Law is divided into 70 articles and 11 chapters. There are three major modifications in comparison with the old one. It has revised the clauses under the rules of the World Trade Organization(WTO), worked out the provisions for the exercising rights and procedure as a WTO member and also added clauses with a view to catering to the needs of new situation and promoting healthy development of foreign trade activities. According to the amendments, individuals are allowed to conduct foreign trade activities, the approval system is changed into a registration system for import-export enterprises.The amendments also adds clauses on protecting intellectual property right, maintaining import-export trade order,helping and promoting small and medium-sized enterprises in froeign trade activities,establishing a public information service system, and exerting foreign trade investigations and trade relief. The amended Foreign Trade Law will provide legal protection for both domestic and foreign property owners,promote healthy development of China's foreign trade activities. It plays an important role in improving open policy and keeping in close touch with all countries and regions in foreign trade. (All information published in this website is authentic in Chinese. English is provided for reference only. ) |
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