Pushing Ahead with Foreign-invested Urban Planning Enterprises

May 02, 2003 | BY

clpstaff &clp articles

By Scott Silverman, Freshfields Bruckhaus Deringer, Hong KongChina's accession to the WTO and the 2008 Olympics in Beijing are accelerating the opening…

By Scott Silverman, Freshfields Bruckhaus Deringer, Hong Kong

China's accession to the WTO and the 2008 Olympics in Beijing are accelerating the opening of new areas of the economy to foreign investors. The Administration of Foreign-invested Urban Planning Services Enterprises Provisions (the Provisions, jointly issued by the Ministry of Construction (MOC) and the former Ministry of Foreign Trade & Economic Cooperation) show one aspect of the market opening measures.

Under the WTO Schedule of Specific Commitments on Services, China agreed to open urban planning services to majority foreign investment upon accession, but did not commit to allowing wholly foreign-owned enterprises in this sector until December 11 2006. The Provisions, which are effective May 1 2003, hasten the introduction of the concessions to which China has agreed.

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