COMUNICACIÓN DE LA MISIÓN PERMANENTE DE LA REPÚBLICA POPULAR DE CHINA

Transcripción

1 NEGOCIACIONES COMERCIALES MULTILATERALES RONDA URUGUAY RESTRICTED MTN.GNS/W/124/Rev.l 6 de abril de 1993 Distribución especial Grupo de Negociaciones sobre Servicios Original: inglés COMUNICACIÓN DE LA MISIÓN PERMANENTE DE LA REPÚBLICA POPULAR DE CHINA Oferta condicional de la República Popular de China en materia de compromisos iniciales sobre el comercio de servicios Revisión La comunicación siguiente se distribuye a los miembros del Grupo de Negociaciones sobre Servicios a petición de la República Popular de China. En esta comunicación China presenta una versión revisada de su oferta condicional en materia de compromisos iniciales sobre el comercio de servicios que sustituye a la oferta contenida en el documento MTN.GNS/W/124, de 19 de julio de Las condiciones y explicaciones que figuran a continuación forman parte integrante de la oferta de China. La presente oferta está supeditada, entre otras cosas, al texto definitivo del Acuerdo General sobre el Comercio de Servicios (GATS), incluidos los anexos sectoriales, particularmente en las esferas en las que China tiene intereses importantes, y también está condicionada a los compromisos iniciales definitivos que asuman las demás partes en el GATS. La oferta de compromisos de China en relación con el acceso a los mercados y al trato nacional se hace con sujeción a la legislación vigente y sin perjuicio de las medidas adoptadas para alcanzar objetivos de la política de seguridad y desarrollo nacional, y en consonancia con el nivel de desarrollo económico de China. Dicha oferta no afecta para nada a las medidas pertinentes al comercio de bienes y a los derechos de propiedad intelectual. Tampoco se aplica a los servicios suministrados en el ejercicio de funciones gubernamentales. China se reserva el derecho de modificar, ampliar, reducir o incluso retirar la presente oferta en cualquier momento antes de que concluyan las negociaciones sobre servicios, según el valor de los compromisos específicos en relación con el acceso a los mercados y el trato nacional asumidos por las demás partes y del grado de adhesión a la obligación de trato n.m.f. contenida en el artículo II del GATS. Además, China evaluará los resultados alcanzados en el GATS en función de su vinculación con los resultados globales que se obtengan en las negociaciones comerciales multilaterales de la Ronda Uruguay patrocinadas por el GATT. SECRETARIA DEL GATT UR

2 MTN.GNS/W/124/Rev.1 Página 2 China se reserva asimismo el derecho de introducir en su oferta modificaciones técnicas, así como de corregir omisiones o errores técnicos. China mantiene actualmente determinados requisitos de reciprocidad en las esferas del acceso a los mercados y el trato nacional. De conformidad con la legislación pertinente de China, el derecho de establecimiento y trato nacional en determinados sectores o subsectores está subordinado a la condición de que el país beneficiario conceda a las empresas y/o nacionales de China el derecho correspondiente de establecimiento y trato nacional con respecto a los servicios en los sectores o subsectores de que se trate. A este respecto, China se compromete a cumplir la obligación n.m.f. establecida en el GATS, salvo que se indique otra cosa en la lista de exenciones. No obstante, la presente oferta está condicionada a la aceptación de compromisos adecuados en materia de acceso a los mercados y trato nacional que asuman las demás partes. Explicación Los sectores y subsectores de servicios abarcados por la oferta de China se indican en lo posible de conformidad con la lista de clasificación preparada por la Secretaría y que figura en el documento MTN.GNS/W/120, de julio de 1991, aunque esta lista, en algunos casos, no coincide con la clasificación sistemática de categorías de proveedores de servicios tal como ha sido prevista en la legislación china. Por ejemplo, los servicios de transporte marítimo y de transporte por carretera, en la clasificación china, corresponden al sector de comunicaciones. El Ministro de Comunicaciones es responsable de los servicios de transporte marítimo y de transporte por carretera, pero no de los servicios postales y de telecomunicaciones. La oferta china consta de dos partes. La primera establece las condiciones y medidas horizontales pertinentes a todos los sectores y, cuando corresponde, todos los modos de prestación. La segunda contiene compromisos específicos relativos a los sectores y subsectores enumerados. En toda la oferta de China se utiliza la misma terminología a fin de estipular con precisión el alcance de los compromisos iniciales. Se utilizan los términos siguientes: 1) Consolidado: Significa la consolidación del régimen de todas las condiciones, limitaciones y reservas en vigor, es decir, actualmente se aplican determinadas restricciones, pero no se prevé reforzarlas en el futuro en el contexto del GATS. 2) No consolidado: Significa que China no ha asumido ningún compromiso con respecto al modo o a los modos de prestación de la actividad de servicios de que se trate en relación con el acceso a los mercados o el trato nacional. 3) No aplicable: Significa que no resulta viable el modo de prestación del servicio designado y que, en consecuencia, no hay ningún compromiso técnicamente aplicable.

3 MTN.GNS/W/124/Rev.l Página 3 4) Ninguna: Significa que actualmente no se aplica, ni se prevé introducir, ninguna condición, limitación ni reserva al acceso a los mercados o al trato nacional con respecto a determinado modo de prestación en determinado sector o subsector, pero ello no significa que no existan leyes ni reglamentos que rijan la actividad de servicios de que se trata. Además, la indicación "ninguna" en la Parte II significa que no se aplica ninguna condición, limitación y/o reserva además de las mencionadas en la Parte I. La indicación "ninguna" en la columna correspondiente al trato nacional significa que no se aplican otras condiciones y/o limitaciones además de las indicadas en la columna de acceso a los mercados.

4 MTN.GNS/W/124/Rev.1 Página 4 PARTE I Condiciones, limitaciones y reservas horizontales aplicables a todos los sectores 1. Inversiones extranjeras Las leyes y reglamentos de China en materia de inversiones extranjeras contienen estipulaciones concretas que regulan este tipo de inversiones en China, así como el registro, el establecimiento, las operaciones, los derechos y las obligaciones de las empresas conjuntas con participación china y extranjera en el capital social, las empresas conjuntas contractuales y las empresas de capital extranjero. Dichas leyes y reglamentos se aplican también a todos los sectores de servicios. En lo que respecta a los sectores regulados específicamente, también se observarán disposiciones concretas en las operaciones comerciales. En general, la proporción de la inversión del socio extranjero en una empresa conjunta no será inferior al 25 por ciento del capital social. Este constituye un limite porcentual mínimo para la tenencia de acciones por extranjeros, y no hay limites a la proporción de capital extranjero en términos de un porcentaje máximo. Las partes en la empresa compartirán las utilidades, los riesgos y las pérdidas a prorrata de sus respectivas contribuciones en el capital social. En el marco de la legislación china en materia de inversiones extranjeras, el establecimiento de empresas de capital extranjero se limitará a los siguientes sectores y subsectores: a) servicios públicos; b) comunicaciones y transporte; c) servicios inmobiliarios; d) inversiones en fondos fiduciarios; y e) arrendamiento con opción de compra. La solicitud para el establecimiento de una empresa de capital extranjero en los sectores que se acaban de mencionar se presentará al Ministerio de Relaciones Económicas y Comercio Exteriores (MOFERT) para su aprobación. En virtud de la legislación china sobre inversiones extranjeras, no se autorizará el establecimiento de ninguna empresa de capital extranjero en los sectores y subsectores siguientes: a) prensa, publicación, radiodifusión, televisión y cinematografía;

5 MTN.GNS/W/124/Rev.l Página 5 b) correos y telecomunicaciones; y c) otros sectores en los que esté prohibido el establecimiento de empresas de capital extranjero, en la forma prescrita por el Gobierno chino. 2. Tributación En el marco de la legislación china, generalmente los impuestos y gravámenes aplicables a los servicios y proveedores de servicios extranjeros no son más altos que los aplicables a los servicios y proveedores de servicios similares nacionales. Con el propósito de promover los servicios y proveedores de servicios extranjeros en China, actualmente se les aplican, en algunos sectores, determinados impuestos y gravámenes más favorables que los aplicados a servicios y proveedores de servicios similares nacionales, como medidas especiales de carácter temporal. En consecuencia, estas medidas no se considerarán consolidadas. 3. Control de cambios La República Popular de China, como país en desarrollo, ejerce el control de cambios de conformidad con las leyes y reglamentos nacionales así como con los acuerdos internacionales pertinentes que China ha firmado. Las transferencias de divisas relacionadas con los servicios y proveedores de servicios extranjeros se rigen por las leyes y reglamentos en materia de control de cambios. 4. Bienes raices En la República Popular de China la tierra es propiedad del Estado. Las empresas y los particulares pueden adquirir el derecho a la utilización de la tierra de conformidad con las disposiciones pertinentes de la legislación aplicable. 5. Movimiento temporal de personas físicas En China, los extranjeros deben regirse por las leyes chinas y no pueden poner en peligro la seguridad nacional, perjudicar los intereses generales de la comunidad ni perturbar el orden público. El Gobierno chino protegerá los derechos e intereses legítimos de los extranjeros en el territorio de China. Con respecto al movimiento de las personas físicas para el suministro de un servicio, tal como se define en el párrafo 2 del artículo I del Acuerdo, China no asumirá ningún compromiso salvo con respecto a la entrada y la estancia temporal de personas físicas que correspondan a una de las categorías siguientes:

6 MTN.GNS/W/124/Rev.l Página 6 1) Al personal directivo y ejecutivo y a los especialistas, definidos como empleados de más categoría de una sociedad de una parte en el GATS que haya establecido una sucursal o una filial en el territorio de la República Popular de China, que se trasladen temporalmente dentro de la misma empresa, se les autorizará la entrada y la estancia por un período inicial de un año, sin necesidad de que cumplan los criterios del mercado de trabajo. A la expiración de ese plazo, la estancia temporal podrá, si es necesario, prorrogarse por un periodo total no superior a cinco años. 2) Al personal directivo y ejecutivo y a los especialistas nacionales de otras partes en el GATS, contratados por las empresas conjuntas con participación china y extranjera en el capital social y por empresas de capital extranjero en el territorio de la República Popular de China para realizar las actividades comerciales previstas en los contratos pertinentes, se les podrá conceder la entrada y un permiso de residencia por un plazo de uno a cinco años. Continuarán aplicándose todas las demás prescripciones de las leyes y reglamentos chinos con respecto a la entrada y a la estancia temporal de los extranjeros.

7 MTN.GNS/W/124/Rev.l Página 7 PARTE II Compromisos específicos con respecto a los sectores y subsectores Modos de prestación: 1) Suministro transfronterizo. 2) Consumo en el exterior. 3) Presencia de personas jurídicas. 4) Presencia de personas físicas (las limitaciones horizontales que figuran en la Parte I se aplican siempre salvo especificación en contrario).

8 Sector or Sub-sector Mode of Delivery Limitations and Conditions on Market Access Conditions and Qualifications tí to 2 H a z en Professional Services N5 Legal Services (CPCNo. 861) Stí rt> < Foreign lawyer firms may have establishments in the Chínese territory through the form of representativo offices subject to approval by the Ministry of Justice and to registraron at the State Administration for Industry and Commerce, and reciprocity is required at present stage. The business scope of foreign lawyer firms' representativo offices is limited to the following: (a) providing clients with consultancy on home country's law, international treaty and practico; (b) handling legal affairs on behalf of and entrusted by Chínese clients and lawyer firms in the country in which the lawyer firm is registered for legal business; (c) acting on behalf of foreign clients to entrust a Chínese lawyer firm to deal with legal affairs in the Chirese territory. No permission for the following business: (a) handling Chínese legal affairs as agent. e.g. appearance in the Chínese court of justice; (b) interpreting the Chínese law; (c) other legal business which is prohibited by the Chínese law. The foreign lawyers' representativo offices shall not employ Chínese lawyers. The term of representative office in China is limited to 5 years, and it may be extended subject to approval. A foreign lawyer is not permitted to conduct legal business in his/her own capacity as a lawyer in China. A foreign lawyer can only conduct lectures and academic activities as a legal expert in China.

9 Sector or Motie of Limitations and Conditions Conditions and Oualifications Sub-sector Delivery on Market Access Accounting, Auditing and Bock-keeping CPC No. 862 Ur.bound Foreign accounting firms which have huge enough business capacity may l.c permitted to establish branch offices or contractual joint venture accounting firms in the economically developed districts of China subject to an economic needs test. The business scope of the branch offices is subject to relevant stipulations of the Ministry of Finance. Contractual joint venture accounting firms must abide by the contractual joint venture law in terms of personnel and capital requirements. Foreign accountants' auditing reports shall be valid for the competent authorities of China providing that they obtain the titles of Chínese CPA. The foreign professional staff members employed by a branch office or a contractual joint venture accounting firm must hold the CPA titles of their home countries. Taxation Service (8630) Foreign accounting firms which possess huge enough business capacity may be permitted to establish representative offices in the economically developed districts of China and provide taxation services. The qualifications of foreign professionals employed by a representativo office shall be examined and recognized by the Ministry of Finance of China. General Management Consulting Service (86501) Financial Management Consulting Service (86502) (D Foreign accounting firms which possess huge enough business capacity may be permitted to establish reoresentative offices in the economically developed districts of China and provide management consulting services. The qualifications of foreign professionals employed by a representative office shall be examined and recognized by the Ministry of Finance of China. tí to ero n> VO 2 H z O 5S in S H- ho -t-

10 t Sector or Sub- sector Mode of Delivery Limitations and Conditions on Market Access Conditions and Oualifications tí to (t> 2 H z o z Medical and Dental Services N3 Foreign solely-owned hospital or clinics (i.e. foreign-capital enterprises) are not permitted, but foreigners are permitted to establish equity jointventure or contractual joint venture hospitals or clinics with Chínese partners on a trial basis with a quantitative limitation in line with China's needs. Such establishments must be approved by the Ministry of Public Health and the MOFERT. The trial equity or contractual joint venture hospitals and clinics shall assume solé respons bility for foreign exchange balance of payments and for its profits or losses. The majority of the doctors and medical personnel of the joint venture hospitals and clinics shall be of Chínese nationalíty. rt> Foreign doctors with professional certificates issued by home state shall be permitted to provide short-term medical services in China. The licence shall be obtained from the health authorities at provincial level. The term of service is six month and may be extended to one year subject to approval. For medical services, foreign doctors shall submit the following documents to the competent authorities: (a) an application; (b) notarized educational resume, professional certifícate and more than five years of medical experience as a doctor; (c) contracts with Chínese partners, etc. Foreign doctors providing services must sign a contract with Chínese partners which shall be Chinóse medical institutions. Technical Testing and Analysis Services Foreign service províders are permitted to establish technical testing and analysis institutions or companies with Chínese partners n the form of equity joint ventures subject to approval jointly by the MOFERT and other competent authorities in accordance with the Chinese-foreign equity joint venture law. other than "all sectors* conditions.

11 r Sector or Sub sector Mode of Delivery Limitations and Conditions on Market Access Conditions and Oualifications Related Scientific Technical Consulting Services d) Foreign service providers arr permitted to establish scientific and technical consulting institutions or companies in the form of equity joint venture subject to approval jointly by the MOFERT and other competent authorities in accordance of the provisions of the Chineseforeign equity joint venture law. other than "all sectors" conditions. Maintenance and Repair of Equipment Services Foreign service providers are permitted to establish maintenance companies with Chínese partners in the form of equity joint venture subject to approval jointly by the MOFERT and other competent authorities in accordance of the provisions of the Chinese-foreign equity joint venture law. other than 'all sectors* conditions. Services Incidental to Agriculture, Forestry, Hunting and Fishing Foreign service providers are permitted to establish service companies with Chínese partners in the form of equity joint venture subject to approval jointly by the MOFERT and other competent authorities in accordance with the provisions of the Chineseforeign equity joint venture law. other than "all sectors" conditions. tí to oo n

12 Sector or Sub-sector Mode of Delivery Limitations and Conditions on Market Access Conditions and Oualifications tí 2 to 00 H Z n o i z K> en Translation and Interpretation Services Licence s shall be obtained from the State Bureau of Foreign Experts of the P.R.C. (SBFE) and other competent authorities. Oualifications are as follows: specified years of experience in translation or interpretation and a good command of the working language(s) concerned. pora < Educational Services d) other than "all sectors* conditions. Licence shall be obtained from the SBFE and the State Educational Commission of the P.R.C. (SEC). Oualifications are as follows: possession of Master's degree or above, and an appropriate professional title (e.g. professor, sénior engineer or lecturer or above, etc.). Computer and Related Services (S4T Consulta«-icy Services, the Installation of Computer Hardware (841) Oualifications required from the certified engineer are as follows: Bachelor's degree or above and 5 years of experience in these fields. 'NOTE: Those services which are conveyed over the publie telecommunications delivery network are not included.

13 t Sector or Sub-sector Mode of Delivery Limitations and Conditions on Market Access Conditions and Oualifications Software Implementation Services (535) Systems and Software Consulting Services (8421) Systems Analysis Services (8422) Oualifications required from the certified engineer are as follows: Bachelor's degree or above and 5 years of experience in these fields. Systems Design Services (8423) Programming Services 8424) The form of equity joint venture only. Systems Maintenance Services (8425) Oualifications required from the certified engineer are as follows: Bachelor's degree or above and 5 years of experience in these fields. Data Processing Services (843) Input Preparation Services (8431) The form of equity joint venture only. Oualifications required from the certified engineer are as follows: Bachelor's degree or above and 3 years of experience in these fields. Data entry operator shall be of Chínese nationality. tí 2 to H oo Z n> o p- z u> en Data Processing and Tabulation Services (8432) Time-sharing Services (8433) 5d fd < Oualifications required from the certified engineer are as follows: Bachelor's degree or above and 5 years of experience in these fields.

14 Sector or Sub-sector Maintenance and Repair Services of Office Machinery and Equipment including Computers (845) Mode of Delivery (D Limitations and Conditions on Market Access The form of equity joint venture only Conditions and Oualifications Oualifications required from the certified engineer are as follows: Bachelor's degree or above and 5 years of experience in these fields. tí 2 H no to IS (B O i i z *- en 3C "--*. H- K> Jí- PO fd < Advertising Services (CPC No. 871) Foreign enterprises or businessmen that need reléase advertisement in China shall entrust their advertisement to the Chínese advertising agents possessing the right to opérate foreign advertisement. Foreign service providers who want to solicit advertisement from China shall conduct advertising business through the Chinese advertising agents possessing the right to opérate foreign advertisement. Foreign service providers may establish advertising companies in China by the way of Chinese-foreign equity joint venture or contractual joint venture, subject to the following conditions: (a) foreign partner shall have the capacity in providing advanced technology and equipment and managerial experience; (b) the foreign partner must be an enterprise in terms of juridical person whose business is mainly involved in advertising services. Foreign-capital advertising enterprises are not permitted. other than "all sectors* limitations. Offshore Oilfield Services

15 Sector or Mode of Limitations and Conditions Conditions and Oualifications Sub-sector Delivery on Market Access Related scientific and technical consulting services (CPT 8675) Geológica!, Geophysical and other Scientific Prospecting Services (86751) Subsurface Surveying Services 86752) By the way of Chinese-foreign cooperative development and subject to "The Notificaron of Registration of Foreign Companies Involving in Cooperativo Development Activities and Contracting Projects in the People's Republic of China" effective as from April 1, 1983, and meeting requirements of Bidding Documents from Chínese side. If foreign contractors cali for bids, the first priority shall be given to the Chínese side so long as its terms are competitivo. Onshore Oílfield Services (D Not applicable Not applicable In the designated áreas approved by the Chínese Government.' By the way of petroleum exploítatíon in Corporation with China National Oil and Gas Exploration & Development Corp. (CNODC). -- In order to carry out the petroleum contract, the foreign service províder shall establish a branch or subsidiary or representative office within the territory of the People's Republic of China and go through registration formalities in accordance with the laws. The domicíles of the said offices shall be determined through consultation with CNODC. The foreign service províder shall open is bank account with a bank approved by the Chínese government authorities to engage foreign exchange business within the Chínese territory. To meet the requirements of the Bidding Documents and Model Contract from the Chínese side. The foreign service províder shall furnísh CNODC accurately and promptly with the report on the petroleum operations, and shall submit to CNODC the data and samples as well as various technological. economic, accounting and administrative reports related to petroleum operations. CNODC shall have the ownership of all of the data, records, samples, vouchers and other original information acquired during the implementation of the petroleum operations. The foreign service províder shall use appropriate and advanced technology and managerial experience, and shall have the obligation to transfer its technology and pass on its experience to the Chínese personnel. The investment of foreign service províder shall be made in U.S. dollar or other hard currencies. -- With regard to personnel, materials, equipment, facilities and services required in the petroleum operations, priority shall be given to the employment of the Chínese subcontractors, provided that they are competitive in delivery, time, price and quality. tí 2 to H oo z n> O K- z m en Ni po (0 < 'NOTE: Among these áreas, the oil and/or gas fields being operated by the Chínese corporations shall be excluded. The eleven provinces and autonomous regíons are as follows: Jiangsu Province, Zhejiang Province, Jiangxi Province, Hunan Provínce, Anhui Province, Guangdong Province, Fujían Province, Yunan Provínce, Mubei Province, Hainan Province and Guangxi Zhuang Autonomous Región.

16 Sector or Sub- sector Mode of Delivery Limitations and Conditions on Market Access Conditions and Oualifications tí to oo Construction and Related Engineering Services (CPC No ) By the w way of equity joint venture or contractual joint venture. The foreign venturers shall have to be competitive and registered institutions in theír own countries. Registered architect and engineer in hís own country. Construction (CPC No ) (D Opon tender for projects by joint venturos. Subject to Provisional Measures on the Oualification of Foreign Enterprises in Project Contraction in China. Real Estáte Services involving own or leased property (CPC No. 821) <2) By the way of equity joint venture or contractual joint venture, certain percentage of investment, subject to relevant contracts. Real Estáte Services on a fee or contract basis (CPC No. 822) By the way of an agent or appraísing company, etc. Non'.; other than "all sectors" conditions.

17 Sector or Mode of Limitations and Conditions Conditions and Oualifications Sub-sector Delivery on Market Access Urban Planning (CPC No. 8674) Excludíng general urban planning (D Subject to different provisions by different municipalíties and to ratification by the competent authorities in line with requirements and qualificatíons for urban planning. Banking Services There are four types of foreign financia! institutions to invest and provide services in China. They are foreign bank, branch of foreign bank, Chinese-foreign joint bank, and Chinese-foreign joint finance company. All the services mentioned below are limited only to banking business in foreign exchange only. All the services provided by the four types of financial institutions are subject to "Regulations Governing Foreign Banks and Joint Chinese-Foreign Banks in Special Economic Zones of the People's Republic of China* and 'Regulations for Administration of Financial Institutions with Chínese and Foreign Joint Capital in Shanghai*. The following limitations, conditions and qualifícations apply to all banking service activities listed in the offer: A. Four types of financial institutions are permitted in China: foreign bank, branch of foreign bank, Chinese-foreign joint bank and Chineseforeign joint finance company. B. Oualifications for establishing a foreign bank are as follows: -- the investor shall be a financial institution; A. Requirements of registered capital and operating funds: the minimum registered capital of a foreign bank and a Chinese-foreign joint bank shall be USD 30 million or equivalent in other freely convertible currencies. The minimum registered capital of a Chinese-foreign jointly owned finance company shall all be USD 20 millions or equivalent in other convertible currencies. Their paid-in capital shall all be no less than 50% of their registered capital. tí 2 to H 00 z fl> - z ~j en

18 Sector or Mode of Limitations and Conditions Sub-sector Delivery on Market Access -- it shall have a representative office of over three years' standing in China; it shall have total assets of more than USD 10 billion at the end of the year prior to the application. C. Oualifications for establishing a branch of foreign bank are as follows: -- it shall have had a representative office of over three years' standing in China; it shall have total assets of moro than 20 blllions at the end of the year prior to the application; its home country or región shall have a sound financial supervisory system. D. Oualifications for establishing a Chineseforeign joint bank or a Chinese-foreign joint finance company are as follows: each investing party shall be a financial institution; -- the foreign investor shall have a representative office in China. O to 2 H Conditions and Oualifications ^ ^ O i- z co en A foreign bank branch shall be allocated by its ^ head office a sum of no less than USD 10 millions i or equivalent in other convertible currencies as JJ its operating funds. ^ Within 30 days from receipt of the approval < certifícate issued by the People's Bank of China, a financial institution of the four types must raise in full its paid-in capital or operating funds to be verified by a Chínese registered accountant who shall issue a certifícate of capital verification. - a foreign bank, a Chinese-foreign joint bank or a Chinese-foreign joint finance company must draw 25% of the not profit after tax each year as reserve until the total amount of its paid-in capital plus reserve funds is twice as its registered capital. A foreign branch bank must keep 25% of its after-tax net profit in China to supplement its operating funds until the kept profit is equal to its operating funds. B. Other regulations on banking business: - The total amount of loans and other facilities granted by a financial institution of the four types to any enterprise and its related enterprise and its related enterprises shall not be more than 30% of its paid-in capital plus total reserves, unless otherwise specially approved by the People's Bank of China. - The total amount of investment by a financial institution of the four types shall not be more than 30% of its paid-in capital plus its total reserves. The preceding sentence does not apply to the investments in financial enterprise approved by the People's Bank of China. - The total assets of a financial institution of the four types shall not be more than 20 times of its paid-in capital plus total reserves.

19 9 Sector or Sub-sector Mode of Delivery Limitations and Conditions on Market Access Conditions and Oualifications -- A financial institution of the four types shall engage at least one Chínese citizen as its sénior managerial personnel. Sénior managerial personnel in a financial institution of the four types shall not concurrently hold important positions in other economic organizations. A financial institution of the four types shall appoint a regular registered account and such appointment is subject to the approval by the People's Bank of China or its branches. Acceptance of Non-resident deposit in foreign currencies "1 ( ) Payment and money transmission service including credit, charge and debit cards, travellers cheques and banking drafts (81339) Lending in foreign currencies *2 (8113) tí to oo Guarantees (81199)

20 Sector or Sub-sector Trading for account of customers "3 ( ) Mode of Delivery Limitations and Conditions on Market Access Conditions and Oualifications tí to 00 ÍD ho o 2 H Z O z eo =S **** i K> -P- P3 ni < Custodial depository and trust service "4 (8119 or 81319) Ad vi sor y and other auxiliary financial services including credit reference and analysis 8133, excluding 8131) (D Provisión and transfer of financial information data processing and related software by províder of other financial services (8131) Insurance '5

21 r NOTES: *1 a) At the present stage, the four types of financial institutions are not allowed to take deposits from citizens residing in China; but they can take deposits from 'foreign-capital enterprises, equity joint ventures and contractual joint ventures* and also take deposits of loans proceeds from Chínese enterprises to whom they have granted the loans. b) Each deposit which a Chinese-foreign joint finance company can take shall be no less than USD or equivalent in other convertible currencies for a period of at least three months. *2 a) Loans to Chínese citizens in China are excluded. b) The four types of financial institutions are free to grant loans to foreign-capital enterprises, equity joint ventures and contractual joint ventures, and their lendings to Chínese enterprises are subject to the rules and regulations issued by the State Administration of Exchange Control. *3 Excluding transferable securities and other negotiablo instruments and financial assets inclusive of bullion. *4 Custodial depository service is applicable to foreign bank/branch of foreign bank/chinese-foreign joint bank; trust service is applicable to Chinese-foreign joint finance company. "5 China has offered to open its insurance market conditionally. Specific regulations on insurance business and the implementing rules will be promulgated soon by the People's Bank of China.

22 r Sector or Sub-sector Tourism Services Mode of Delivery Limitations and Conditions on Market Access Conditions and Oualifications tí to oo n N> K3 2 H Z O z en S Hotels (including apartment buildings) and restaurants (CPC No , 64201) No limitations Foreign service providers may construct, renovate and opérate hotel and restaurant establishments in China by the way of Chinese-foreign equity joint venture or contractual joint venture. Such joint venture hotels are subject to approval by the State Planning Commission, MOFERT and National Tourism Administration in line with economic needs. Such joint venture restaurants are subject to approval by local competent authorities in line with economic needs. No limitations other than "all sectors* limitations. i N) Ji- PO n> < Foreign managers, specialists and sénior executives who have signed contracts with joint venture hotels and restaurants in China shall be permitted to provide services in China. other than 'all sectors* limitations. Maritime Transport Services Freight Transport (CPC No excluding 72121) for cargo sharing. Limitations as indicated under Market Access. Shipping company: only through joint ventures and based on an economic needs test. International liner shipping: based on an economic needs test. Representative office: subject to all sectors limitations.

23 r Sector or Sub-sector Mode of Delivery Limitations and Conditions on Market Access Conditions and Oualifications Services Auxiliary to Maritime Transport - Freight Forwarding (CPC No ) Permission based on an economic needs test. Cargo Handling (CPC No ) (D By the way of equity joint venture for containers only. Unbou.id Storage and Warehousing (CPC No. 742) d) By the way of joint ventures for containers only. Internal Waterway Transport Services Freight Transport (CPC No. 7222) (D Only international shipping in ports open to foreign vessels shall be permitted. Limitations as indicated under Market Access. tí to oo

24 Sector or Sub-sector Road Transport Services Mode of Delivery Limitations and Conditions on Market Access Conditions and Oualifications tí to oo n> N5 2 H Z O z en Freight Transport (CPC No including to 71233) Foreigners may provide road freight transport services by the way of joint ventures subject to an economic needs test. ro <