Foreign Trade Law of China
The development of Foreign Trade Law of People’s Republic of China is a great mirror of China’s economic system reform, opening-up policy and earnest commitment toWTO. The first Foreign Trade Law was enacted in 1994 as the result of the international trade boom since China announced “opening” to the outside world in 1978. To accommodate WTO’s requirements and discharge its obligations, China overhauled the Foreign Trade Law and promulgated a new revision in 2004, two years after its entry to WTO. This new Foreign Trade Law includes 11 chapters and 70 clauses, removing and revising all stipulations not in line with WTO rules and adding facilitating regulations for foreign trade development. Read more…