./.WORLD TRADE
ORGANIZATIONS/C/N/223
24 December 2002
(02-7102)
Council for Trade in Services Original:  English
NOTIFICATION PURSUANT TO ARTICLE III:3 OF THE
GENERAL AGREEMENT ON TRADE IN SERVICES
The following notification has been received from the delegation of the People's Republic of
China.
____________
1. Member notifying:
The People's Republic of China
2. Notification under:
Article III, paragraph 3 of the General Agreement on Trade in Services
3. Date of entry into force/duration:
2001/12/9
4. Agency responsible for implementati on and enforcement of the measure:
The People’s Bank of China
5. Complete description of the measure* indicating the modes of supply covered, the effect
on trade in services (e.g., restrictions/liberalization measures) and the impact of the
measure on commitments in the Member's schedule and Article II (MFN) exemption
list, if relevant:
Proclamation by the People’s Bank of China on the Related Issues of Foreign-Funded
Financial Institutions’ Market Access
Full text English translation of the proclamation is attached.1  The English translation is for
reference only and the Chinese version shall be authentic.
6. Members specifically affected, if any:
All Members
7. The texts are available from:
- Enquiry point /g254
- WTO Secretariat /g254
- Other sources (address, fax
                                                     
* Including international agreements, recognition measures or other types.
1 In English onlyS/C/N/223
Page 2
and telephone of other body) /g168
Proclamation by the People’s Bank of China on the Related Issues of Foreign-Funded
Financial Institutions’ Market Access
(December 9th, 2001)
After officially acceding to the World Trade Organization on December 11, 2001, our country will
open the banking sector stage-by-stage in accordance with the commitments. In respect of the related
issues, the proclamation is now made as follows:
I. As of December 11, 2001, restrictions as to the clients to whom foreign-funded financial
institutions will provide foreign currency business services shall be removed. The clients to whomforeign-funded financial institutions will provide foreign currency business services may be enlarged
to all units and individuals within China’s territory, but the corresponding operating funds or capital
funds must be added and the permits for financial business operations or permits of legal persons for
financial business must be replaced.
II. As of December 11, 2001, the financial institutions established in Shanhai and Shenzhen shall
be permitted to operate Renminbi business officially, and the financial institutions established in
Tianjin and Dalian may apply for Reminbi business operations.
III. As of December 11, 2001, foreign-funded non-bank financial institutions may, in accordance
with the provisions of the relevant administration measures which will be promulgated by the
People’s Bank of China, apply for establishing solely foreign-funded or joint equity motor vehicle
financial services companies to deal with motor vehicle financing business.
IV. As of December 11, 2001, foreign investors may, in accordance with the provisions of the
Measures for Administration of Financial Leasing Companies, apply for establishing solely foreign -
funded or joint equity financial leasing companies to provide financial leasing services.
V. The People’s Bank of China will, in accordance with the revised Regulations of the People’s
Republic of China on Administration of Foreign-funded Financial Institutions, the Detailed Rules for
Implementation of the Regulations of the People’s Republic of China on Administration of Foreign-
funded Financial Institutions and other related administration measures, accept various applicationsfrom foreign-funded financial institutions.
VI. The applications for establishing institutions already submitted to our bank by the foreign -
funded institutions remain effective, but the applicants shall supplement their application materials in
accordance with the provisions of the revised regulations.
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