China has completed the rectification of six laws, making them all conforming to the rules of the World Trade Organization (WTO).
This was announced by Zhang Chunsheng, deputy director of the Commission of Legislative Affairs of the Standing Committee of the National People's Congress (NPC), here Tuesday in an interview with Xinhua.
The six laws are: the Law on Chinese-Foreign Equity Joint Ventures, the Trademark Law and the Copy Right Law that were revised this year and the Law on Chinese-Foreign Contractual Joint Ventures, the Law on Foreign-Capital Enterprises and the Patent Law that were rectified last year.
The six laws concern the use of foreign capital and the protection of intellectual property.
The rectification of the Law on Chinese-Foreign Equity Joint Ventures, the Law on Chinese-Foreign Contractual Joint Ventures and the Law on Foreign-Capital Enterprises won widespread welcome for they massively eliminate the restrictions on foreign-invested enterprises.
Zhang said amending of such laws is in the spirit of the WTO and represents the principles of "national treatment" and "most-favored-nation clauses". "In the meantime, this has adopted to the needs of the social-economic development of China itself."
Before rectification, the three laws regulate that foreign-invested enterprises should buy raw materials and parts in the Chinese market, their business plans should be reported to the governmental departments and they should maintain the balance of foreign currency.
The revised Trademark Law has expanded the exclusive rights of trademark to individual and improved relevant compensation measures.
The revised Copy Right Law, however, has ensured the equal rights of Chinese citizens with foreigners in terms of copy right protection.
Although China has made arduous efforts in amending relevant laws, there is still long way to go in making the administrative laws and local regulations in line with the WTO rules, Zhang said. (Xinhua News Agency December 25, 2001)