Foreign Insurer's "in Good Hands": China Offers New Opportunities in the Insurance Services Sector

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clpstaff &clp articles

As part of its terms of entry to the World Trade Organization, China has agreed to open up its insurance market significantly to foreign insurance services providers.

The Final Agreement which sets out the detailed terms on which China enters the WTO, is found in some 900 pages1 of text.

The Final Agreement reflects the outcome of multilateral and bilateral negotiations with China. The WTO China Working Party2 focused3 on China's multilateral obligations under the various WTO agreements that would bind China when it became a member. China also conducted separate bilateral negotiations with 42 WTO members. The WTO admission procedures allow each WTO member the opportunity to negotiate the terms under which it would agree to China's entry.

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