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To: Clarksterh who wrote (11886)	6/9/2000 12:43:00 AM
From: Caxton Rhodes	Respond to of 13582

Below is a summary re: Telecom of a detailed EU China WTO agreement sourced from EU. Caxton __________________________________________________________ Please specifically note four specific developments that will have an immediate positive impact on US high tech companies in China: 1. Market access to China's mobile phone market has considerably enhanced. Although the final equity cap remains at 49%, the market will be opened immediately upon accession (with an initial 25% equity cap). II. Clarification on geographical restrictions - telecom service BETWEEN major cities (Beijing, Shanghai and Guangzhou) will be opened. III. Liberalization of domestic leased circuit services - FOREIGN COMPANIES WILL BE ALLOWED TO CREATE THEIR OWN NETWORK (presumably including the access network) - which will allow foreign companies to provide a wide range of VAS upon accession. IV. Horizontally, China will also eliminate any discrimination in government procurement. As EU Trade Commissioner Pascal Lamy informed European Council on China WTO deal on May 22, he indicated that he had achieved about 96% of what he wanted in negotiating with China - The United States had first negotiated about 80% of what the EU wanted and that the recent EU-China negotiations had added another 16-17%. Mr Lamy was confident in the implementation of China's commitments in the WTO, in that "the Chinese would work to comply with the agreement and stressed EU support for this recognizing that the nature of these commitments was little short of revolutionary for China. Major debates are taking place within China regarding the forthcoming impact of WTO accession which will have huge cultural and political effects. This includes China's sovereignty, as she will have to comply and implement WTO dispute settlement resolutions. "