Click here for a special offer. Click here for our free newsletter. Duties on farm products drop as low as 14.5 percent, and China ends its export subsidies. Tariffs reduced to 25 percent by 2006, down from up to 100 percent today.
Foreign companies gain full distribution.
Foreign banks can cater to individuals five years after that. Foreigners can own 33 percent of Chinese fund management companies and up to 49 percent three years after China's WTO entry. China imports at least 20 foreign films a year. Phone companies can own 49 percent of Chinese telecom service ventures when China enters WTO and 50 percent two years later. Today phone companies are limited to equipment sales.