CHINA WTO
September 1st, 2001
KEITH NUTHALL
FOREIGN companies will be able to hold 100 per cent ownership in hotels in China, under the trade deal which led to Chinese membership of the World Trade Organisation being approved this week. Smaller tourist businesses will also be able to operate in China in future, because of a promise by Beijing to scrap minimum capital and turnover requirements for overseas travel firms. The concession covers "many of the China specialists in Europe" said an EU briefing paper.
FOREIGN companies will be able to hold 100 per cent ownership in hotels in China, under the trade deal which led to Chinese membership of the World Trade Organisation being approved this week. Smaller tourist businesses will also be able to operate in China in future, because of a promise by Beijing to scrap minimum capital and turnover requirements for overseas travel firms. The concession covers "many of the China specialists in Europe" said an EU briefing paper.
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