Title Page
Content
I. Introduction 4
II. Interpretation of WTO on financial services trade and the review of its rules 6
1. Content of financial services trade and the main mode 6
1). Background of financial services trade involved in the multilateral trading system and the reasons 6
2). Meaning of financial services trade 7
3). Main mode of financial services trade 8
2. Rreview of WTO on the rules of fanacial services trade. 9
1). Legal framework of WTO restrict the financial services trade 9
2). Regulate trade in financial services WTO basic rules or principles 12
3). Summary of WTO about fanacial services rules.(내용없음) 2
III. Analysis of Impact of Opening of Financial Service Market on Financial Service Trading in China 18
1. Analysis of Opening Level of Chinese Financial Service Trade 18
1). Present Status of Opening to Outside World of Chinese Financial Service Industry 18
2). Insurance industry has opened completely to outside world. 21
3). Opening to Outside World of Securities Industry in Steady Progress 23
4). Foreign Exchange Management: Convertibility Is Realized in More Than Half Capital Items. 25
2. Comment & Analysis on Opening Level of Chinese Financial Service Trading 26
1). Degree of Openness of Chinese Financial Service Trading 26
2). Degree of Openness to Foreign Investment in Chinese Financial Service Industry 28
2. Impact of Openness of Financial Market on Chinese Financial ServiceTrading 29
1). Positive Impact of Openness of Financial Market on Chinese FinancialService Trading 29
2). Negative Impact of Openness of Financial Market on Chinese Financial Service Trading 31
IV. Present Status of Chinese Financial Service Trading and Analysis of Its Competitiveness 35
2. Analysis of Main Trade Patterns in Chinese Financial Service Trade 38
(1) Examination & study of financial service trade pattern of cross-borderdelivery in China 38
(2) Examination & study of financial service trade pattern of commercialpresence in China 40
(3) Analysis of Chinese Financial Service Trade Patterns in Industries 41
V. Countermeasures for Financial Service Trade Development under WTO System 45
1. Experience & Lessons of Openness of Financial Service Trade Market inDeveloping Countries 45
1). Experience of Openness of Financial Service Trade Market in DevelopingCountries 45
2). Lessons of Openness of Financial Service Trade Market in DevelopingCountries 46
3). Revelation of Openness of Financial Service Trade Market in DevelopingCountries 48
2. To Make Full Use of GATS Rules to Protect Chinese Financial ServiceIndustry Appropriately 49
1). According to Basic Rules under WTO on Financial Service to ReduceConditions for Foreign Capital Entry 49
2). Establishment of Sound Domestic Financial Laws & Regulations andElimination of deficiencies in Related Main Laws 50
3). Implementation of National Treatment to Give Domestic FinancialEnterprises in China Same Equality 50
4). Full Use of Reasonable Protection Rules to Protect Domestic FinancialInterests and Security 51
3. Chinese Government's Choice of Development of Financial Service Tradeunder Conditions of Opening Market 52
1). Further Improvement of Macro Environment of Financial Service Trade 52
2). Strengthening Regulation of Foreign Capital Financial Institutions toPrevent Financial Risks 54
3). Encouraging Financial Service Industry to Implement "Going Out" StrategySeeking Overseas Market 56
4. Proposals on Chinese Financial Enterprises to Improve Their OwnCompetitiveness Under Open Market Conditions 57
1). Improvement of Enterprise's Internal Management and Establishment ofStrict Enterprise Systems 57
2). Accelerated Innovation of Diversified Financial Products, ParticularlyOffshore Financial Products 57
3). Strengthening Human Resources Management to Store Talents forCompetition 58
VI. conclusion 59
Abstract 63
Reference 61
Table 2-1. Degree of Openness of Financial Service Trading Industry in China from2001 to 2009 27
Table 2-2. Degree of Openness (%) to Foreign Investment in Chinese Financial Service Industry from 1999 to 2006 28
Table 2-4. Items Less Restrictive and Convertible under Capital Items in China 25
Table 3-1. International Balance Situation of Chinese Bank & Insurance Industry from 2001 to 2009 36
Table 3-2. Import & Export Volume of Chinese Financial Service Trade ofCross-border Delivery 39
Table 3-3. Chinese Financial Service TC Index from 2001 to 2009 43
Fig. 3-2. Chinese Financial Service Trade Imports of Cross-border Delivery for yearsfrom2001 to 2009 39
Fig. 3-4. Chinese Financial Service Trade TC Index from 2001 to 2009 44