China's opening-up in trade in services is unprecedented

时间：2006-10-23 01:40:04

（单词翻译:单击）

Chinanews, Beijing, Oct. 22 – The Ministry1 of Commerce spokesman Chong Quan said on Wednesday that since China joined the World Trade Organization (WTO), the opening of China's trade in services has been unprecedented2, the China Securities Journal reported.

 

At a forum3 marking the fifth anniversary of China's entry into the WTO, Chong said that in the banking4 sector5, by the end of May this year, 71 foreign banks had opened 197 branch offices in China. These foreign banks had launched Renminbi service in 25 cities across China.

 

Apart from the banking sector, by the end of June this year, foreign financial institutions had set up 7 auto6 finance companies and 3 corporate7 financial branches in China. The work of introducing overseas trust and investment companies as a way to introduce overseas institutional investors8 is also in process.

 

In the securities market, by the end of last June, China had set up 23 joint-funded fund management companies and 7 joint-funded securities companies. The number of overseas securities companies that can buy A-shares in Shanghai and Shenzhen stock markets has reached 39 and 19, respectively. 42 overseas institutions have been approved as qualified9 foreign institutional investors (QFII).

 

In insurance sector, by the end of last year, 41 foreign insurance companies had entered into China, accounting10 for half of the total number of insurance companies in the country. They have opened a total of nearly 400 branch offices in China.

 

Apart from the finance sector, Chong said China had further opened its market in other sectors11 as well. Taking the distribution sector as an example, by the end of last year, China had approved 1,341 foreign-funded commercial enterprises in China. They had opened 5,657 stores in the country. Large foreign chain stores have occupied one-fourth of the supermarket shares in China. In the telecommunication12, transportation, education, tourism and other sectors, the opening-up is also developing in increasing depth.

 

In recent years, China has introduced more foreign capital into domestic finance sector. In 2005, the amount of actual foreign direct investment in the banking, insurance and securities sectors reached 11.8 billion US dollars. When added with this figure, the amount of actual foreign investment utilization13 reached 72.4 billion US dollars in 2005, up 19.42% from the previous year, Chong noted14.

 
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1 ministry kD5x2     
n.(政府的)部；牧师
参考例句：
  • They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
  • We probed the Air Ministry statements.我们调查了空军部的记录。
2 unprecedented 7gSyJ     
adj.无前例的，新奇的
参考例句：
  • The air crash caused an unprecedented number of deaths.这次空难的死亡人数是空前的。
  • A flood of this sort is really unprecedented.这样大的洪水真是十年九不遇。
3 forum cilx0     
n.论坛，讨论会
参考例句：
  • They're holding a forum on new ways of teaching history.他们正在举行历史教学讨论会。
  • The organisation would provide a forum where problems could be discussed.这个组织将提供一个可以讨论问题的平台。
4 banking aySz20     
n.银行业，银行学，金融业
参考例句：
  • John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
  • He possesses an extensive knowledge of banking.他具有广博的银行业务知识。
5 sector yjczYn     
n.部门，部分；防御地段，防区；扇形
参考例句：
  • The export sector will aid the economic recovery. 出口产业将促进经济复苏。
  • The enemy have attacked the British sector.敌人已进攻英国防区。
6 auto ZOnyW     
n.(=automobile)(口语)汽车
参考例句：
  • Don't park your auto here.别把你的汽车停在这儿。
  • The auto industry has brought many people to Detroit.汽车工业把许多人吸引到了底特律。
7 corporate 7olzl     
adj.共同的，全体的；公司的，企业的
参考例句：
  • This is our corporate responsibility.这是我们共同的责任。
  • His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。
8 investors dffc64354445b947454450e472276b99     
n.投资者，出资者( investor的名词复数 )
参考例句：
  • a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
  • a cash bonanza for investors 投资者的赚钱机会
9 qualified DCPyj     
adj.合格的，有资格的，胜任的，有限制的
参考例句：
  • He is qualified as a complete man of letters.他有资格当真正的文学家。
  • We must note that we still lack qualified specialists.我们必须看到我们还缺乏有资质的专家。
10 accounting nzSzsY     
n.会计，会计学，借贷对照表
参考例句：
  • A job fell vacant in the accounting department.财会部出现了一个空缺。
  • There's an accounting error in this entry.这笔账目里有差错。
11 sectors 218ffb34fa5fb6bc1691e90cd45ad627     
n.部门( sector的名词复数 )；领域；防御地区；扇形
参考例句：
  • Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
  • Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》
12 telecommunication 5gMzg5     
n.电信，远距离通信
参考例句：
  • Telecommunication is an industry of service.电信业是一个服务型的行业。
  • I only care about the telecommunication quality and the charge.我只关心通信质量和资费两个方面。
13 utilization Of0zMC     
n.利用，效用
参考例句：
  • Computer has found an increasingly wide utilization in all fields.电子计算机已越来越广泛地在各个领域得到应用。
  • Modern forms of agricultural utilization,have completely refuted this assumption.现代农业利用形式，完全驳倒了这种想象。
14 noted 5n4zXc     
adj.著名的，知名的
参考例句：
  • The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
  • Jim is noted for arriving late for work.吉姆上班迟到出了名。

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