| After
entering WTO, one of the most important obligations of China is to amend lots
of laws and regulations concerning multilateral trade. It will bring great influence
on administrative legislation and civil and commercial legislation.
Influence
on Legislation of Real Right We
shall lay stress on distinguish between movable property and immovable property.
Scope and obtaining method of immovable property, state¡¯s ownership of land and
collective ownership of rural area shall be concretely prescribed. Obtaining method
of moveable property shall also be prescribed, including preempt, lost property,
treasure trove, and accession.
Influence
on Legislation of Finance Internationalization
of Finance China
will gradually eliminate its trade barrier on banking, finance and security.
Promises
Undertaken by China 1.Gradually
canceling limitation on foreign-invested banks to give them free market access; 2.Gradually
increasing number of representative office of foreign security facilities and
permitting foreigners to establish fund management corporations; 3.Gradually
canceling all regionally limitation of insurance industry to enlarge business
scope of foreign insurance company in China.
Three
Aspects of Perfecting Legislation of Finance 1.Fusion
of international financial business is a global trend. In this sense, today¡¯s
Commercial Banking Law of the PRC will be behind the times. In the future, securities,
banking and insurance industry will realize conglomerately operation. 2.In
most other countries, service content of financial service is abundant, involving
all profit making projects of this aspect. However, China strictly separates securities,
banking and insurance industry for the purpose of keeping out of risks and strengthening
management. Such conservative status shall have some changes. 3.After
the Reform and Opening to the Outside World, foreign financial organs not only
enjoy preferential treatment but also strict market access and limitation of business
scope in order to both attracting foreign capital and protecting straggling Chinese
financial industry. It has played a positive role in its earlier stage. Nevertheless,
its disadvantages are more and more evident. Chinese financial industry is dissatisfied
with such unequal treatment. Meanwhile, foreign financial organs cannot enjoy
national treatment after entering Chinese market.
Accordingly,
China shall make an overall amendment of today¡¯s financial legislation in accordance
with above promises. Influence
on Legislation of Competition Law Competition
legislation mainly includes anti-monopoly law and anti-unfair competition law.
Since China is going to enter WTO, anti-monopoly law shall be promulgated as soon
as possible in order maintain market order and protect consumers' benefits with
the purpose of accelerate market stability and economic development. China shall
try to get rid of administrative monopoly. In addition, phenomenon of foreign
enterprises¡¯ monopolizing market will be popular after China¡¯s entrance into WTO.
In this sense, an anti-monopoly law in conformity to international usual practice
shall be promulgated. Other
Aspects We
shall also pay attention of intellectual property of domain name and importance
of anti-dumping legislation. | 
