Qingdao will open completely the foreign trade operation right to private enterprises as of April 1st. Private enterprises will be allowed to do foreign trade business after they get registered in the concerned department.

China lifted the restriction to foreign trade operation for private enterprises in October 1999. But private enterprises still face certain restrictions. With China's entry into the World Trade Organization, it committed that all of the Chinese and foreign enterprises will be given trade rights and can do international trade in three years. Qingdao has permitted the private enterprise to do foreign trade in great advance to the country's commitment. This move is expected to create a better competition environment for the local enterprises and will benefit the city's export. Last year, the export of the private enterprises accounted for 4.7% of the city's total export volume.

(QDTV__Seven Days)