Check on Unlicensed Foreign-funded Retail Enterprises Approaches End

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Last updated at: (Beijing Time) Saturday, December 21, 2002

Check on Unlicensed Foreign-funded Retail Enterprises Approaches End

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Since 1998, China has been rectifying unlicensed foreign-funded retail enterprises, and the work has nearly been concluded, said Gao Yan, spokeswoman with the Ministry of Foreign Trade and Economic Cooperation in Beijjng on Friday.

To date, only 28 foreign-funded retail enterprises have been granted licenses from the State Council, while the actual number of such enterprises operating in China exceeds 300.

At a press conference, Gao said that the orderly and active opening-up of the retail industry and the maintenance of order in the commodities market are in the fundamental interests of legitimate foreign-funded retail enterprises.

This past year, China approved 17 enterprises which play positive roles in improving the domestic business environment and market circulation, she said.

China will continue to open its market to foreign-funded enterprises in accordance with its World Trade Organization (WTO) commitments, she said.

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