Under the Agreement, China will quadruple imports to 40 films per year, growing to 50 films within three years, of which 20 will be on a revenue-sharing basis in each of the three years. The Agreement ensures that Internet services will be liberalized at the same rate as other key telecommunications services. China has clarified that it will permit provision of telecommunications services via satellite. It is this vast body of trade law, all of which will become applicable to China upon accession, that makes it valuable for the rest of the world to have China as a WTO member. Similar to the rules used for transfer pricing, the first method is the transaction value, comparable identical goods transactions, comparable similar goods transactions, the deductive method and the computed method.
Countries can elect to have either automatic licensing or non-automatic.
The latter is only permissible if the administrative goals cannot be obtained by some other more appropriate method. In any event, the regime imposed must be transparent both as to how it is supposed to operate and factual reporting as to how it has operated. The best know of these is the Agreement on Trade in Services, which extends GATT conditions of national treatment, market access, and MFN to trade in services and establishes a framework for liberalization. TRIPs or the Agreement on Trade-Related Aspects of Intellectual Property Rights, including Trade in Counterfeit Goods, provides that Member countries must provide a high level of IP protection and enforcement for copyrights, trademarks, geographical indications, industrial designs, patents, layout designs of integrated circuits and trade secrets. Members must implement TRIPs within one year of accession.