NEGOCIACIONES COMERCIALES MULTILATERALES RONDA URUGUAY

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1 NEGOCIACIONES COMERCIALES MULTILATERALES RONDA URUGUAY RESTRICTED MTN.GNS/W/124/Rev.2 30 de septiembre 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/Rev.l, de 6 de abril 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 articulo 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.2 Página 2 China se reserva asimismo el derecho de introducir en su oferta modificaciones técnicas, asi 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 pais 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 Secretaria 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 salvedades 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) Not applicable (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/12 VRev. 2 Página 3 4) (ninguna): Significa que actualmente no se aplica, ni se prevé introducir, ninguna condición, limitación ni salvedad 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 salvedad 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.2 Página 4 PARTE I Condiciones, limitaciones y salvedades 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 límite porcentual mínimo para la tenencia de acciones por extranjeros, y no hay límites 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.2 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 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 R_pública 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.2 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 período 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.2 Página 7 PARTE II Compromisos específicos con respecto a los sectores y subsectores Modos de prestación: 1) Suministro transíronterizo. 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 Professional Service» Legal Services (CPC No. 861) Hoda of Delivery Limitations and Conditions on Markst Accass Foreign law firms may have establishments in the Chínese territory through the form of representativa offices subject to criteria and procedures stipulated in "Interim Provisions of the Ministry of Justice and the State Administration for Industry and Commerce on the setting up of the Office of Foreign Law Firm in China" The business scope of foreign lawyer firms' representativa offices is limited to the following: (a) providing clients with consultancy on home country's law, International treaty and practica; *0 p> (N m oo 3 H Z. O z 10 ^ \ I-" ro P- V SO fl> <í (b) handling legal affairs on behalf of and entrusted by Chinese 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 Chinese lawyer firm to deal with legal affairs in the Chinese territory. No permisslon for the following business: (a) handling Chinese legal affairs as agent, e.g. appearance in the Chinese court of justice: (b) interpreting the Chinese law; (c) other legal business which is prohibited by the Chinese law. The foreign lawyers' representativa offices shall not employ Chinese lawyers. The term of representativa office in China is limited to S 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 ezpert in China. Accounting, Auditing and Book-keeping CPC No. 862

9 Sector or Mode of Limitations and Conditions Sub-sector Delivery on Market Access Accounting, Auditing and Book-Keeping (CPC No. 862) (*) Foreign accounting firms which meet the following conditions may be permitted to establish branch offices or contractual joint ventura accounting firms in the economically developed áreas* of China: (a) with professional personnel no less than 10,000; and (b) with annual business income not less than USS1 billion. The total number of this kind of foreign accounting firms providing services in China shall not exceed 15. Foreign accountants' auditing reporta shall be valid for the competent authorities of China providing that they obtain the titles of Chinese 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 meet the following conditions may be permitted to establish representativa offices in the economically developed áreas of China: (a) with professional personnel no less than 10,000; and (b) with annual business income not less than US$1 billion. The qualifications of foreign professionals employed by a representative office shall be examinad and recognized by the Ministry of Financt of China. General Management Consulting Service (86501) Financial Management Consulting Service (86502) Medical and Dental Services (*) (*) Foreign accounting firms which possess huge enough business capacity may be permitted to establish representative offices in the economically developed districts of China and próvida management Consulting services. The qualifications of foreign professionals employed by a representative office shall be examinad and recognized by the Ministry of Finance of China. ti S 9> H 0P!B O vo 55 C/J * Economically developed área refers to the Special Economic Zones and coastal open cities. O \ <

10 Sector or Sub-sector Mode of Delivery Limitations and Conditions on Market Access ti C P> H W ÍD O M o v Medical and Dental Services 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 venturo hospitals or clinics with Chinase partners on a trial basis with a quantitative limitation in lina 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 assums solé responsibility 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 Chinese nationality. Ni O (i < (*) Foreign doctora 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) contracta with Chinese partners, etc. Foreign doctors providing services must sign a contract with Chineae partners which shall be Chines* medical institutions. Technical Testing and Analysis Servicea (CPC No. 8676) Nona Foreign service providers are permitted to establish technical testing and analysis institutions or compañías with Chinese partners in the form of equity joint venturos 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. (*) Related Scientific Technical Consulting Services (8675) Foreign service providers are permitted to establish scientific and technical consulting institutions or compañías 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. (*)

11 Sector or Mode of Limitations and Conditions Sub-sector Dalivery on Market Access Maintanance and Repair of Equipment Services Foreign service providers are permitted to establish maintanance compañías with Chinese partners in the form of equity joint venture subject to approval jointly by the MOFERT and other competent authorities in accordance of the provisión» of the Chinese-foreign equity joint venture law. other than "all sectors" conditions. (*) Services Incidental to Agricultura, Forestry, Hunting and Fishing Foreign service providers are permitted to establish service compañías with Chinese 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. Nona other than "all sectors" conditions. (*) Translation and Interpretation Services (*) Licence shall be obtained from the State Bureau of Foreign Experta of the P.R.C. (SBFE) and other competent authorities. Qualifications are as follows: spacifiad years of experience in translation or interpretation and a good command of the working language(a) concerned. ti 3 p> H OQ (B O!-!- W Educational Services other than "all sectors" conditions. (*) Licence shall be obtained from the SBFE and the State Educational Commission of the P.R.C. (SEC). Qualifications 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.). <

12 Sector or Sub-sector Computer and Relatad Services (8*)* Conaultancy Services, the Installation of Computer Hardware (841) Mode of Delivery Limitations and Conditions on Market Access ti B> oo <n i- 1 N> EK H O Vi >. *v (- NJ p- ^?> n> <; Software Implementatlon Services (842) Qualifications required from the certified engineer are as follows: Bachelor's degree or above and 5 years of experience in these fields. Systems and Software Consulting Services (8421) 1) 2) Systems Analysis Services (8422) 3) Qualifications 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 Maintanance (8425) Qualifications required from the certified Services engineer are as follows: Bachelor's degree or above and 5 years of experience in these fields. *N0TE: Those services which are conveyed over the public telecommunications delivery network are not included.

13 Sector or Mode of Limitations and Conditions Sub-sactor Delivery on Market Access Data Processing Services (843) Input Preparation Services (8431) The form of equity joint venture only. Qualifications 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 Chinese nationality. Data Processing and Tabulation Services (8432) Time-sharing Services (8433) Maintanance and Repair Services of Office Hachinery and Equipment including Computers (845) The form of equity joint venture only. Advertising Services Foreign enterprises or businessmen that need reléase advertisement in China sha]1 entrust their advertisement to the Chinese advertising agents possessing the right to opérate foreign advertisement. Qualificationa required from the certified engineer are as follows: Bachelor's degree or above and 5 years of experience in these fields. Qualifications required from the certified engineer are as follows: Bachelor's degree or above and 5 years of experience in these fields. ti 3 P> H 00 (B O M U> Vi N3 O <

14 Sector or Sub-sector Mode of Delivery Limitations and Conditions on Market Access 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. ti ai oo m i- 1 p- 3 H O Vi > \ i- 1 ro P- V po m < Offshore Oilfield Services Relatad scientific and technical Consulting services (CPC 8675) Geological, Geophysical and other Scientific Prospecting Services (86751) Subsurfaca Surveying Services 86752) By the way of Chinese-foreign cooperativa development and subject to 'The Notification of Registration of Foreign Companies Involving in Cooperativa Development Activities and Contracting Projects in the People's Republic of China' effective as from April 1, and meeting requirements of Bidding Documents from Chinese side. Onshore Oilfield Services Not applicable Not applicable

15 Sector or Mode of Limitations and Conditions Sub-sector Delivery on Market Access Onshore Oilfield Services -- In the designated áreas approved by the Chinese Government.* -- By the way of petroleum exploitation in Corporation with China National Oil and Gas Exploration & Development Corp. (CNODC). -- In order to carry out the petroleum contract, the foreign service provider shall establish a branch or subsidiary or representative office within the territory of the People's Republic of China and go through regiatration formalities in accordance with the laws. The domiciles of the said offices shall be determined through consultation with CNODC. -- The foreign service provider shall open its bank account with a bank approved by the Chinese government authorities to engage foreign exchange business within the Chinese territory. -- To meet the requirements of the Bidding Documenta and Modal Contract from the Chinese side. -- The foreign service provider shall furniah 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 administrativa reporta relatad to petroleum operationa. 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 aervice provider shall use appropriate and advanced technology and managerial experience, and shall have the obligation to tranafer its technology and pass on its experience to the Chinese personnel. -- The investment of foreign service provider shall be made in U.S. dollar or other hard currancies. -- With regard to personnel, materiala, equipment, facilities and services required in the petroleum operationa, priority shall be given to the employment of the Chinese subcontractora, provided that they are competitive in delivery, time, price and quality. NOTE: Among these áreas, the oil and/or gas fields being operated by the Chinese corporations shall be excluded. The eleven provinces and autonomous regions ara as follows: Jiangau Province, Zhejiang Province, Jiangxi Province, Hunan Province, Anhui Province, Guangdong Province, Fujian Province, Yunan Province, Mubei Province, Hainan Province and Guangxi Zhuang Autonomous Región. Construction and Relatad Engineering Servicea (CPC No ) Construction (CPC No ) By the < way of equity joint venture or contractual Ragiatered architect and engineer in his own joint venture. The foreign venturers shall have country. to be competitive and registered institutions in their own countries. ti tu oo (t> I-* Ul 3 H O Vi ^ \ I- 1 Ni P- N JO n> <

16 Sector or Sub-aector Construction (CPC No ) Real Estáte Services involving own or leased property (CPC No. 821) Mode of Delivery Limitations and Conditions on Markat Access Open tender for projects by joint venturos. By the tha i way of equity joint venture or contractual joint venture, certain percentage of investment, subject to relevant contracta. Subject to provisional measures on the qualification of foreign enterprises in project contraction in China. Nona ti 3 H (í I- 1 ON Ō Vi > \ i-* N3 P- \?o <t> < Real Eatate Services on a fee or contract baais (CPC No. 822) By the way of an agent or appraising company, etc. other than "all sectors" conditions. Urban Planning (CPC No. 8674) Excluding general urban planning Banking Services There are four types of foreign financial institutions to invest and próvida services in China. They are subsidiarles of foreign banks, branches of foreign banks, Chinese-foreign joint banks, and Chinese-foreign joint tinance companies. All the services mentioned below are limited only to banking business in foreign exchange only. All the aervices provided by the four types of financial institutions are subject to "Regulations Govarning Foreign Banks and Joint Chinese-Foreign Banks in Special Economic Zonas of the People'a Republic of China" and "Regulations for Administration of Financial Institutions with Chinese and Foreign Joint Capital in Shanghai".

17 Sector or Mode of Limitations and Conditions Sub-sector Delivery on Market Access The following limitations, conditions and qualifications apply to all banking service activities Usted in the offer: A. Four types of foreign financial institutions are permitted to provide services in China. They are the subsidiary of a foreign bank, the branch of a foreign bank, the Chinese-foreign joint bank and the Chineseforeign joint finance company. Establishment of the four types of foreign financial institutions are limited to the following regions: Shanghai, Shenzhen, Zhuhai, Hainan, Xiamen, Shantou, Guangzhou, Fuzhou, Tianjin, Nanjin, Qingdao, Dallan and Ningpo. B. Qualificationa for establishing a foreign bank are aa follows: the investor shall be a financial institution; it shall have a representative office of over three yeara' atanding in China; -- it shall have total assets of more than US$ billion at the end of the year prior to the application. C. Qualificationa for establishing a branch of a 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 more than 20 billion at the end of the year prior to the application; -- its homa country or región shall have a aound financial auperviaory system. D. Qualifications for establishing a Chineseforeign joint bank or a Chinese-foreign joint finance company are aa follows: -- each investing party shall be a financial institution; A. Requirementa of registered capital and operating funds: -- the mínimum registered capital of a foreign bank and a Chinese-foreign joint bank shall be US$30 million or equivalent in other freely convertible currencies. The mínimum registered capital of a Chinese-foreign jointly owned finance company shall all be US$20 million or equivalent in other convertible currencies. Their paid-in capital shall all be no less than 50Z of their registered capital. A foreign bank branch shall be allocated by ita head office a aum of no less than US$10 million or equivalent in other convertible currenciea aa ita operating funda. -- Within 30 daya from receipt of the approval certifícate iasued 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 Chinese 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 25Z of the net profit after tax each year as reaerve until the total amount of its paid-in capital plus reserve funds is twice as its registered capital. A foreign branch bank muat keep 25Z of its after-tax net profit in China to aupplement its operating funda until the kept profit is equal to its operating funda. B. Other regulations on banking business: ti Oí 00 <tt h-> ^J 3 H O Vi > \ t- 1 ro P- -N. poro <

18 Sector or Sub-sector Mode of Delivery Limitations and Conditions on Market Access -- the foreign investor shall have a representativa office in China. -- 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 ita related enterprises shall not be more than 30Z of its paid-in capital plus total reserves, unless otherwise specially approved by the People's Bank of China. ti 0> oo n> i- 1 oo 3 H O to ^ V. *-> to t> ">s?3 m <: -- The total amount of investment by a financial institution of the four types shall not be more than 30Z of ita paid-in capital plus its total reserves. The preceding sentence does not apply to the investments in financial enterprises 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. -- A financial institution of the four types shall engage at least one Chinese 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 regiatered 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 ( ) Payment and money transmission service including credit, charge and debit cards, travellers cheques and banking drafts (81339) "nbound

19 Sector or Mode of Limitations and Conditions Sub-sector Delivery on Market Access Conditions and Qualificationa Lending in foreign currencies (8113) Guaranteea (81199) Trading for account of customers (81339, 81333) Custodial depository and trust service (8119 or 81319) Advlaory and other auxiliary financial servicea including credit refarenee and analysis (8133, excluding 8131) Provisión and transfer of financial Information data procesaing and related software by provider of other financial services (8131) ti 3 0> H 00» I- vo Vi to P- <

20 Sector or Mode of Limitations and Conditions Sub-sector Delivery on Market Access NOTES: (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 deposita from "foreign-capital enterprises, equity joint venturos and contractual joint ventures" and also take deposits of loans proceeds from Chinese enterprises to whom they have granted the loans. (b) Each deposit which a Chinese-foreign joint finance company can take ahall be no less than US$100,000 or equivalent in other convertible currencies for a period of at least three months. 2 (a) Loans to Chinase citizens in China ara axcluded. (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 Chinese enterprises are subject to the rules and regulations issued by the State Administraron of Exchange Control. Excluding transfarable aacuritiea and other negotiable Instruments and financial assets inclusive of bullion. ti SK H 01 oo (D to O Ō Vi ^ \ (- Ni P- "V poní < Custodial depoaitory services are applicable to foreign banks/branches of foreign banks/chinese-foreign joint banks: trust services are applicable to Chinese-foreign joint finance companies. Inaurance Services China offera to open ita inaurance market conditionally. Usted in the offer: The following limitations, conditions and qualifications apply to all Insurance service activities All the services provided by foreign Insurance service providers are subject to "Provisional Regulations Governing the Foreign Insurance Institutions in Shanghai". At the preaent staga, foreign Insurance compañías are allowed to establish branches and Chinese-foreign joint Insurance companies in Shanghai only. Limitations and conditions on market access: (a) Two typas of foreign inaurance institutions are permitted in Shanghai China: the branch of a foreign Insurance company and the Chinese-foreign joint Insurance company. (b) Qualificationa for establishing a foreign Insurance institution are as follows: the investor shall be a foreign Insurance company more than 30 years of estábilshment; it shall have a representative office of over three consecutivo years in China; it shall have total assets of more than US$5 billion at the end of the year prior to application. Conditions and qualifications on national treatment: (a) Requirements of registered capital and guarantee funds: a branch of a foreign inaurance company underwriting either life inaurance or non-life Insurance shall pay in as its guarantee funds US$4 million or equivalent in other convertible currencies to the branch of the People's Bank of China in Shanghai;

21 a branch of a foreign inaurance company underwriting both life Insurance and non-life Insurance shall pay in as its guarantee funds US$8 million or equivalent in other convertible currencies to the branch of the People's Bank of China in Shanghai; the registered capital of a Chinese-foreign joint Insurance company underwriting either life Insurance or non-life Insurance shall be US$20 million or equivalent in other convertible currencies; the registered capital of a Chinese-foreign joint Insurance company underwriting both life Insurance and non-life inaurance shall be US$40 million or equivalent in other convertible currencies; paid-in capital of a Chinese-foreign joint Insurance company shall be no less than 50Z of its registered capital; a Chinese-foreign joint Insurance company must draw 25Z of the net profit after tax each year as reserve funds until the total amount of its paid-in capital plus reaarve funds is twice aa ita registered capital; a Chinese-foreign joint Insurance company shall pay in 20Z of its paid-in capital as its guarantee funda to the branch of the People's Bank of China in Shanghai. (b) Other regulationa on inaurance business: requlrement of reinsurance: a foreign Insurance institution shall transact 30Z of its total Insurance business aa reinaurance to the People's Insurance Company of China. The responsibility for each periloua unit in non-life Insurance underwritten by a foreign Insurance institution sha not exceed 10Z of its total nat assets, the exceeded portion shall be transacted as reinsurance to other Insurance institutions; the branch of a foreign inaurance company and the Chinese-foreign joint Insurance company to engaga in part or all of the following investment operations in China: - deposit in Chinese financial inatitutions; - purchaaing bonda issued by the government; - ourchaaing bonda issued by enterprises (not exceeding 10Z of its total investments); - purchasing financial bonds; - trust lending in foreign currencies (it shall have collateral or guarantee by the financial institutions, eech unit of its lending shall not exceed 5Z of its total investment, the whole sum of its lending shall not exceed 30Z of its total investments); - equity investment (not exceeding 1SZ of its total investments); - other business operationa ratified by the People's Bank of China; sénior managerial peraonnel in a foreign Insurance institution shall not concurrently hold important positions in other economic organizations; a foreign inaurance institution shall appoint a regular accountant and actuary, such appointment is subject to the approval by the branch of the People's Bank of China in Shanghai. the foreign Insurance institution shall not conduct the statutory Insurance business.

22 Sector or Sub-sector Life Inaurance Mode of Delivery Limitations and Conditions on Market Access No limitation No limitation ti 3 H Oí 00 ni M Ni O Vi > \ I- 1 Ni P- V po ni <: Non-Llfe Insurance No limitation No limitation Reinsurance No limitation No limitation Services aux illary to Insurance No limitation No limitation The foreign Insurance company shall make investment with ita paid-in capital, unalloted profit, any types of reserve funds and other assets in China. The total valué of the investment is that of the above-mentioned capitals and assets. The investment of foreign Insurance company shall be in the form of local or foreign currencies. 2 The life Insurance service refera to tha sarvice provided to foreign and Chinese citizens who bear payment of premiums by themselves. 3 The non-life insuranca services refers to any types of non-life Insurance of foreign enterprises abroad, and proparty Insurance, liability Insurance of foreign-capital enterprises in China. The reinsurance service refers to that service related to life Insurance and non-life Insurance. The Insurance brokerage and agency are not included.

23 Sector or Mode of Limitations and Conditions Sub-sactor Delivery on Market Access Tourlsm Services Hotels (including apartment buildings) and restaurants (CPC No. 6411, 64193, 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 venturea or contractual joint ventures. Such joint venture hotels are subject to approval by the State Planning Commission, MOFERT and National Tourism Administration in lina with economic needs. Such joint venture restaurante are subject to approval by local competent authorities in line with economic needs. No limitations other than "all sectors" limitations Foreign managers, apecialists and sénior executivea who have aigned contracta with joint venture hotels and restaurants in China shall be permitted to provide services in China. other than "all sectors" limitations

24 Sector or Sub-Sactor TRANSPORT SERVICES Maritime Transport Services International transport (Freight and Passengers) CPC 7811 and 7212 less cabotage transport Limitations on Market Access (l)(a) Linar shipping (including passanger transportation): none (b) Bulk, tramp and other International shipping including passanger transportation: nona Limitations (l)(a) (b) Additional Commitments ti 3 H 01 oo n> Ni P- <D Vi > \ (- Ni * \ 70 m < (a) Establishment of registered company for the purpoae of operating fleet under the national flag of the State of establishment: unbound (a) (b) Other forma of commercial presence for the supply of International marítima transport services: unbound (b) (a) Ship'a crews: unbound (a) (b) Key personnel employed in relation to a commercial presence as dafined under mode (3Mb) above: unbound (b) MARITIME AUXILIARY SERVICES Maritime Cargo Handling Services * By way of joint ventures only * * A commitment on this mode of delivery is not feaaible.

25 Sector or Sub-Sector Limitations on Market Access Limitations Additional Commitmenta MARITIME AUXILIARY SERVICES Storage and Warahousing Services (CPC 742) * * By the way of joint ventures only Customs Clearance Services * * By the way of joint ventures only Container Station and Depot Servicea * * By the way of joint ventures only Marítima Agency Services * * Marítima Freight Forwarding Services By the way of joint ventures only * By the way of joint ventures only * ti 3 H 01 oo <t> Ni Ln O 23 Vi ^ \ t- 1 Ni P- V, po rt> <: * A commitment on this mode of delivery is not feasible.

26 Sector or Sub-sector Internal Waterway Transport Services Freight Transport (CPC No. 7222) Mode of Delivery Limitations and Conditions on Market Access Only International shipping in ports open to foreign vessels shall be permitted. Limitations as indicated under Market Access. ti Di oo ni 3 H <n M ON Vi ^ \ h- 1 Ni P- \?3 m < Road Transport Services Freight Transport (CPC No including to 71233) Foreigners may provide road freight transport sarvicea by the way of joint ventures subject to an economic needs test. Í4)