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Draft Revision of Foreign Trade Law Approved

The State Council held an executive meeting Wednesday, to approve, in principle, the draft amendments to the country's Foreign Trade Law and the provisions on customs protection of intellectual property rights.

The revision of the Foreign Trade Law is aimed at meeting the situation and demands after China joined the World Trade Organization (WTO) two years ago, in order to develop foreign trade, protect the market order, and promote the development of the country's socialist market economy, according to the meeting, which was presided over by Premier Wen Jiabao.

The draft revision of the law will be handed to the Standing Committee of the National People's Congress for approval, after the State Council adds some amendments.

The draft revision of the provisions on the customs protection of intellectual property rights will be issued by the State Council, after it makes some amendments.

The participants also discussed the draft of the provisions on tollway management. The draft will be published in newspapers and the Internet to seek public opinion before it is promulgated by the State Council.

(Xinhua News Agency November 27, 2003)

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