An analysis of financial regulation and supervision in China and the implication of WTO membership

Abstract

It must have been very difficult for the rest of the world to imagine the picture of the World Trade Organization (WTO) accession celebration for China on December 11, 2001. However, after the longest negotiation in WTO history - 15 years of bilateral and multilateral negotiations - China finally became the 143rd WTO member. In accordance with its WTO accession commitments in terms of financial services, China will gradually open up its financial market and consequently, the Chinese financial regulatory and supervisory system will experience a dramatic adjustment in its compliance with the WTO principles and requirements.