The WTO has a binding dispute settlement system for the first time. In order to inject new momentum to the negotiations, EU proposes that China may have transition periods to implement certain WTO obligations after WTO accession. This is accepted by WTO members. China agrees to fully implement the WTO TRIPs agreement upon accession. Party Congress initiates a new phase of the reform process by announcing an overall restructuring of the state enterprise sector, including elements of privatisation.
China submits new tariff and services offers.
Most market opening commitments will be implemented by the year 2005. Most market opening commitments will be implemented by the year 2005. Protocol and Working Party report to the WTO General Council.