CONTACTS: Linda Rozett/David Felipe
(202) 463-5682 / 888-249-NEWS

 

Tuesday, September 16, 2003

 

 

WASHINGTON, D.C. – The United States Chamber of Commerce reported today that while China has taken some initial steps towards compliance with its World Trade Organization commitments, more progress is needed to fulfill the requirements of WTO membership.

 

 “American businesses see the enormous potential that China’s WTO membership presents and are working to resolve trade differences,” said Myron Brilliant, Chamber vice president for Asia.  “However, expectations in the business community are rising and this report clearly shows that China must do more to meet those expectations.”

 

In its report, “China’s WTO Record: A Two-Year Assessment”, the Chamber outlines China’s compliance efforts and indicates that regulatory transparency remains a key concern.  Specifically, improvements in regulatory clarity and the consistent use of advance consultations – one of the country’s WTO commitments – would significantly improve the prospect for success in a number of industries.

 

The report also analyzes the progress of the country’s agriculture, financial services, automobile, express delivery, and telecommunications sectors as well as China’s record on intellectual property rights enforcement and the granting of trading and distribution rights. It notes that excessive capitalization requirements are limiting the healthy development of the financial services market in China, and the country’s trading rights and distribution services commitments need special attention from Chinese officials and U.S. negotiators.

 

The U.S. Chamber of Commerce is the world’s largest business federation, representing more than three million businesses of every size, sector and region.

 

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