To: Tom Hua who wrote (166 ) 1/27/2000 10:46:00 PM From: allen menglin chen Read Replies (2) | Respond to of 203
It'll be another safe week to short Chinese scams now. Chasing XING @ 33-35 to short more and fail today.scmp.com Thursday, January 27, 2000 WTO Talks with EU need more time SHEEL KOHLI in London -------------------------------------------------------------------------------- Trade negotiators from Beijing and Brussels have failed to agree on final terms for mainland entry into the World Trade Organisation, setting the stage for a further round of negotiations next month. Despite Beijing's decision to send a high-powered negotiating team for what was expected to be final talks on reaching a WTO accord with the European Union, the three-day meeting ended yesterday with the EU saying more needed to be done. "I would not say that we are close," a senior EU negotiator said. The official said the Chinese delegation might be able to complete negotiations with the EU satisfactorily "but we are not there yet". Beijing's negotiators, led by Vice-Minister for Foreign Trade and Economic Co-operation Long Yongtu, arrived in Brussels with senior officials from the Ministry of Information Industries, the China Insurance Regulatory Commission and the China Securities Regulatory Commission. Their presence signals a strong desire to speed up the accession progress. The EU chief negotiator Hans-Friedrich Beseler said that a further round of talks would be needed next month. "Negotiations were held in a positive and constructive atmosphere and substantive progress was made through joint efforts on both sides," EU and mainland negotiators said in a joint statement. "Nevertheless, important issues remain to be resolved," they said. If progress could be made at the next round in Beijing, then EU Commissioner for Trade Pascal Lamy and Foreign Trade and Economic Co-operation Minister Shi Guangsheng, could meet to conclude the talks, they said. The EU is the last remaining member of the so-called "quad" states of Japan, Canada, the EU and the United States to complete its WTO talks with the mainland. Several other large nations, such as India and Brazil, have also yet to complete accession talks, but pressure is mounting from the US, which believes EU agreement is important to their own efforts to persuade Congress to grant Beijing normal trade relations status. Without agreement from the EU, it will make it difficult for the mainland to resume protocol WTO talks at the Geneva headquarters.