 |
|
| China gradually opens up its book and newspaper market |
| CCTV.COM 2002-12-17 09:12:06 |
|
In accordance with the WTO rules, China is gradually opening up its distribution channels for books and newspapers to the international competition. The country has hammered out the regulations for a five－year opening up process. Details will be formally released at the end of this month.
Officials said foreign companies can now set up joint ventures in China, but the Chinese side must possess most of the shares.
One year after China's entry to the WTO, markets are already open in 5 special economic zones and 8 cities including Shenzhen and Beijing. Three years after the entry, retailing will be opened nationwide. Five years after, foreign competition will be allowed in the whole book and newspaper distribution business.
Foreign companies will not be submitted to any requirements in matters of shares, business scope, or investment.
|
|
Editor: Yang Feiyang CCTV.com
|
|
|
|
|
|
|
