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To date, the Chinese Government has signed bilateral trade agreements or treaties with the governments of 100 countries (regions), and has signed or joined nearly 100 international economic and trade treaties.
I. Trade Agreements
The Chinese Government has signed governmental trade and payment agreements with governments of many countries. Under the agreements both sides defined the basic principles on trade relations, that is, contracts on import and export commodities shall be negotiated and signed by trade companies of both sides and loans shall be paid in cash, with settling accounts by charging to accounts done for a few isolated countries.
II. Multilateral International Economic Treaties
The Chinese Government has joined many international economic and trade conventions, and recognized and adopted many internationally accepted trade practices, laws and regulations or exemplary methods.
1. Commodity agreements
Since 1980, China has joined a number of international commodity agreements,
including the "Agreement on Establishing the Common Fund for Commodities," the
"International Textiles Agreement," the "International Natural Rubber Agreement,
1979," the "International Agreement on Jute and Jute Products, 1982," the "International
Tropical Timber Agreement" and the "Convention on International Trade in Endangered
Species of Wild Fauna and Flora." In January of 1985, China ratified the "Arrangement
for Establishing the International Textiles and Clothing Bureau." In November
of the same year, it ratified and joined the "Convention Concerning the Protection
of the World Cultural and Natural Heritage." Furthermore, it has signed trade
agreements with the U.S. and the European Community on trade in textiles, iron
and steel and tungsten products.
2. Sales contracts
In 1981, the Chinese Government signed the "United Nations Convention on Contracts
for the International Sale of Goods."
3. Financial institutions and treaties
As of 1971, China became a member or a signatory state of a number of international
organizations or treaties, such as the Agreement on the International Monetary
Fund," the "Agreement on the International Bank for the Construction and Development"
and the "Agreement on the International Finance Corporation." In 1980, it joined
the "Agreement on Establishing the International Fund for Agricultural Development."
In 1985, it signed the "Agreement on Establishing the African Development Bank"
and the "Agreement on Establishing the African Development Fund."
4. Customs
In 1978, China signed the "International Convention for the Publication of Customs
Tariffs." In July of 1983, it officially joined the "Convention on Establishing
the Customs Cooperation Council" and adopted the commodity classification code
of the organization. It began to adopt in 1992 the "System for Standardizing
Commodity Names and Coding."
5. International transportation
In June of 1958, China joined the "Convention for the Unification of Certain
Rules Relating to International Carriage by Air." In October of 1973, it joined
the "International Convention on Ships' Load Line, 1996" and its amendment.
In 1980, it joined the "International Convention on Civil Liability for Oil
Pollution Damage, 1969" and the "International Convention for Safe Containers,"
and the "International Convention for Preventing Collision at Sea, 1972" and
the "United Nations Convention on the Code of Conduct for Liner Conferences."
6. Common practices in international
trade
Practices that are commonly adopted in international trade, such as the "General
Rules of Notes to Terminology Used in International Trade," the "Warsaw-Oxford
Rules, 1932," "Unified Rules for Bills Used in Combined Transport," "Unified
Rules for L/C with Reimbursement Clause" and "Unified Rules for Application
for Collection," hold a significant position in and have a major impact on China's
foreign economic and trade activities.
7. Participating in activities to
unify international trade law
Since 1979, China has been engaged in coordinating and unifying trade laws of
various countries. In 1983, China became a member country of the United Nations
International Trade Law Commission. It has joined a number of governmental international
organizations including the International Unified Private Law Association, the
Hague International Private Law Conference and the Asia-African Law Consultative
Commission. It joined the Chamber of International Commerce in 1994.
With the steady growth of China's foreign trade and economic cooperative relations,
the Chinese Government decided on July 10, 1986, to apply for restoring China's
status as a signatory state in the General Agreement on Tariff and Trade (GATT).
Later, it participated in an all-round way in the Uruguay Round of negotiations
and signed the "Final Text" on April 15, 1994. The Chinese Government is now
applying for and negotiating on its entry into the World Trade Organization
(WTO).
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Last modified: July 4,
2000