State Councillor Wu Yi Tuesday urged industry and commerce authorities to reform the current registration system for foreign-funded enterprises in accordance with the requirement of the World Trade Organization (WTO).
With China's entry into WTO expected by year's end, the readjustment of regulations that are not in track with WTO rules should be hastened, Wu said.
Wu appeared Tuesday at a symposium attended by department directors of the administration and heads of provincial-level industry and commerce authorities across the country.
The symposium in Beijing is the first major gathering since the formerly vice-ministerial level administration was promoted to ministerial level.
The basic principles of WTO, such as market access, the protection of intellectual property rights and fair play, all have close relations with the functions of industry and commerce authorities.
Wang Zhongfu, minister of the State General Administration for Industry and Commerce, said his administration is revising rules, policies and regulations that are not in keeping with the spirit of WTO.
The industry and commerce watchdog is also having a hand in drafting the anti-monopoly and anti-dumping laws.
With such laws drafted, a market supervision law system is expected to take shape.
The nation is currently engaging in a large-scale rectification of market order, which aims to get rid of chaos in the market.
And an important part of the rectification is the crackdown on counterfeit and shoddy commodities.
The promotion of the top industry and commerce administration, which increases its power, is viewed as an important step to this end.
In the first part of the year, industry and commerce authorities across the country have achieved marked results in improving the "economic environment." A total of 103,300 enterprises, including 6,198 foreign-funded businesses, were revoked of their business licenses.
More than 66,000 cases involving the production and sales of fake goods, and more than 16,000 cases involving the violation of consumers' rights, had been put on file for investigation.
(China Daily 08/08/2001)
