International trade in services

Author: Liu Dongsheng (Editor)
Publisher:
Publish Date: 2005-01-01
Features: Starting from December 11, 2004, the degree of openness in important service sectors such as finance, transportation, wholesale and retail, and telecommunications in China will be significantly increased. Restrictions on the geographical areas, quantities, and equity stakes for foreign investment will be gradually lifted, and all will reach the transition period's endpoint within three years. In accordance with China's commitments upon joining the World Trade Organization (WTO), by December 11, 2004, the geographical areas where foreign financial institutions were allowed to conduct RMB business were expanded to Kunming, Beijing, Xiamen, Xi'an, and Shenyang, bringing the number of cities where RMB business could be operated to 18. By the end of 2006, all geographical restrictions will be lifted, and the RMB business for individual Chinese residents will also be opened. At that time, the scope and fields of RMB business for foreign banks will be exactly the same as those for domestic banks. Meanwhile, starting from December 11, 2004, all insurance and related service industries in China will lift geographical restrictions and allow foreign insurance companies to provide health insurance, group insurance, and pension/annuity insurance services to foreigners and Chinese citizens. This means that foreign life insurance companies can engage in all the current business activities of domestic life insurance companies. However, due to the mature experience of foreign insurance companies in overseas markets for decades or even centuries, they have significant advantages in product structure and risk control. As a result, China's financial and insurance industry will face even greater challenges. The continuous expansion of investment and business operations by globally competitive foreign giants in banking, insurance, commerce, transportation, and telecommunications will exert considerable pressure on the restructuring of domestic service industries with insufficient competitiveness. Familiarizing themselves with international rules and enhancing their own competitiveness have become the primary tasks of China's service industry. To this end, we have compiled the book International Trade in Services, hoping to provide readers with assistance in improving their knowledge structure and understanding of international trade in services. This book can serve as a textbook for undergraduate students and also as a reference for those working in or researching international trade in services. International Trade in Services is divided into eight chapters, covering the origin and characteristics of international trade in services, its role, classification, value and price, policies, the basic content of the General Agreement on Trade in Services (GATS), the national landscape of contemporary international trade in services, and the opening and development of China's service industry to foreign markets. The content is rich, the data is detailed, and the structure is clear. International Trade in Services meets the significant standards of an excellent textbook—systematic knowledge and rigorous structure. The framework, key points, and connections between them are well-organized and comprehensive. The discussions on the definition and classification, formation and development, value and price, and policies of international trade in services are thorough and to the point, enabling readers to effectively grasp the basic content of international trade in services in a short time. Another major feature of this book is its strong practicality. By analyzing the origin, current status, and development of service trade in developed and developing countries, it reveals the patterns of international trade in services and provides feasible ideas and specific recommendations for China's service trade to adapt to and thrive in international competition. Readers will not only learn the basic knowledge of international trade in services while reading this book but also gain a developmental perspective on the role of China's service trade in the country's economic development after joining the WTO. By combining traditional trade theories and policies with the evolving characteristics of the times, the book stimulates thinking and truly bridges theory with practice. In summary, International Trade in Services is a specialized book that systematically elaborates on the theory of international trade in services. Its main features are rich content, clear structure, accessibility, and a focus on the integration of theory and practice. Therefore, this book is valuable for researchers in economic and trade fields, undergraduate and graduate students in economics and trade majors, as well as teachers and students in normal universities with economics and management majors. It serves as both a theoretical reference and a guide for international trade in services education. We believe that after reading the entire book, readers will gain a comprehensive understanding and mastery of the basic concepts, historical context, and research methods of international trade in services.