President Jiang Greets
China's Rocket Pioneer
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| Chinese President Jiang Zemin Tuesday morning paid a personal visit to rocket scientist Qian Xuesen, 90, at his home in Beijing. Qian, who returned to China from the United States in 1955, is one of the leading scientists in developing China's nuclear bombs, missiles and satellites.
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Tariff Cut Expected to Help Expand Foreign Trade
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| To fulfill its World Trade Organization commitments, China announced it will cut import tariffs to an average of 12 percent in 2002 from the current 15.3 percent. "The cut in the import tariffs will be beneficial to further expanding China's foreign trade, especially imports,'' said Li Jingwen, an economist with the Chinese Academy of Social Sciences. |
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China Joins WTO
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| China Tuesday became a formal member of the World Trade Organization (WTO), the multilateral trade body's 143rd member. The Ministry of Foreign Trade and Economic Cooperation (MOFTEC) said China will play an active role in the world trade body. |
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China, South Africa Launch Bilateral Commission
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| Chinese President Jiang Zemin and President of South Africa Thabo Mbeki agreed Monday to bolster friendly and cooperative relations to full scale and in various sectors between the two countries. Jiang and Mbeki, who is on a state visit to China, made the pledge when they jointly presided over the first session of the China-South Africa Bi-National Commission. |
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China to Allow Renminbi Business for Overseas Banks in Shanghai, Shenzhen
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| The People's Bank of China (PBOC), the country's central bank, announced Sunday that China will allow overseas financial institutions in Shanghai and Shenzhen to engage in Chinese Renminbi business as of December 11, the day when China will formally become a member of the World Trade Organization (WTO). |
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Premier Urges Officials to Grasp WTO Rules
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| Premier Zhu Rongji yesterday urged government officials to understand the rules of the World Trade Organization (WTO) to ensure sound economic development and social stability in the country. The impact of the WTO entry should not be exaggerated - or underestimated, said Zhu at a seminar attended by over 90 ministerial-level officials from across the country. |
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China Incorporates Pharmacy into WTO Rules
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| The revised Pharmaceuticals Control Law that went into effect December 1 requires all medicine manufacturers to operate in accordance with good manufacturing practice (GMP) standards and medicine sales to follow international conventions and meet China’s needs in a move to adapt WTO rules. |
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Chinese, Icelandic Leaders Greet Each Other on Anniversary of Relations
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| Chinese and Icelandic leaders exchanged congratulatory messages on Saturday to mark the 30th anniversary of the establishment of diplomatic relations between the two countries which falls on December 8. |
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State Media Group Launched
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| A state media group was launched Thursday in Beijing, bringing together the country's top broadcasting, film and TV enterprises in a bid to meet the greater competition that will come with the country's entry into the World Trade Organization (WTO). |
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Timetable Set for Lifting Restrictions on Foreign-Funded Banks
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| In accordance with related World Trade Organization accords, China will gradually lift restrictions on foreign-funded banks. When it formally joins the WTO, China will cancel regional and client limitations to foreign-funded banks in handling foreign exchange business, then foreign banks can open foreign currency business to Chinese-funded enterprises and Chinese citizens. |
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Probe Reveals No Terrorist Funds in Nation's Banks
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| A Chinese Foreign Ministry spokeswoman said yesterday that China is free of any terrorist funds. "The People's Bank of China and all other banks in China have conducted thorough investigations, and the results indicate that there are no funds of terrorist organizations or individuals in China," said Zhang Qiyue at a regular briefing. |
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