Upon approval, the formation of a branch network of an insurance company will be permitted consistent with the phase out of the geographical restrictions.
After China's accession to WTO, three more cities (Dalian, Shenzhen and Foshan) will be opened up for foreign insurance companies in addition to Shanghai and Guangzhou where foreign insurance services have already been allowed. Within two years after the accession, another ten cities (Beijing, Chengdu, Chongqing, Fuzhou, Suzhou, Xiamen, Ningbo, Shenyang, Wuhan and Tianjin) will be added to the list of areas where foreign insurance companies are allowed to provide services. Within three years after China's accession, geographical restrictions will be completely removed.
Within two years after China's accession, foreign non-life insurance companies will be permitted to establish wholly-owned subsidiaries in China. Within four years after China's accession, compulsory cession requirements will be removed. Within five years after China's accession,
Foreign life insurance companies are permitted to provide individual life insurance services to both foreigners and Chinese
Upon China's accession to the WTO, joint ventures in security investment fund management will be permitted in China. Within three
Within three years after China's accession, joint- venture securities companies will be permitted where the foreign equity share does not exceed 33 per cent. They will be permitted to engage in
Foreign companies will not be permitted to produce audio and video products in China.
Without prejudice to China's right to examine the content of audio and video products,
Within three years after China's accession, the restrictions on geographical areas, equity shares,
Within five years after China's accession, all restrictions on the field of distribution with foreign involvement will be removed.
For those chain stores with more than 30 outlets selling products of different types and brands of multiple suppliers, foreign majority ownership is not permitted if such stores distribute grains, cotton, vegetable oils, sugar, books, magazines,