The Ministry of Commerce signed a framework agreement with the Shanghai government to support the development of the city's service and trade sectors.

Under the pact, the ministry and the city will cooperate more closely in policy-making, building Shanghai into an international trade center, conducting a study on developing a market system, using foreign investment, building of special economic zones and training personnel that are needed for the two sectors.

The senior officials of the ministry and the city government should meet regularly to promote better communications, according to the pact.

(Lawyer Wu Yingjie)

Conditions of foreign operators in jointly-operated commercial enterprises

Foreign operators or the major ones of foreign operators in the jointly-operated commercial enterprises (hereinafter referred to as foreign operators) shall be enterprises that possess comparatively strong economic power, advanced marketing skills and managing experiences, wide international marketing network, good reputation and remarkable operating achievement and the capability of propelling the export of China's products through the established jointly-operated commercial enterprises. Foreign operators who apply to establish retail-oriented jointly operated commercial enterprises shall possess an average sale of more than 2 billion US Dollars three years before application and asset of more than 0.2 billion US Dollars one year before application. Foreign operators who apply to establish wholesale-oriented jointly-operated commercial enterprises shall possess an average wholesale volume of more than 2.5 billion US Dollars 3 years before application and asset of more than 0.3 billion US Dollars one year before application.

(Lawyer Wu Yingjie)

Conditions of chinese operators in jointly-operated commercial enterprises

The Chinese operators or the major ones of Chinese operators (hereinafter referred to as Chinese operators) shall be current enterprises that possess comparatively strong economic power and operating capacity. Their asset shall be more than 50 million RMB (30 million RMB in the middle and western areas) one year before application. If Chinese operators are commercial enterprises, the average sale of the three years before application shall be more than 0.3 billion RMB (0.2 billion in the middle and western areas); if they are foreign trade enterprises, the average self-operated import and export volume three years before application shall be more than 50 million US Dollars (the export volume shall be no less than 30 million US Dollars).

(Lawyer Wu Yingjie)