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PRINTA spokesman for the Ministry of Commerce (MOC) on Monday welcomed a ruling by a World Trade Organization (WTO) dispute panel set up following accusations by the United States against China's handling of cross-border electronic payments.
In a report published by the WTO on Monday, the dispute panel dismissed U.S. accusations concerning China UnionPay's market status at home, ruling that measures by China have not barred foreign service providers from entering the Chinese market, Shen Danyang said.
The ruling also rejected the U.S. view that foreign service providers can provide cross-border supply of electronic payment services into China. The panel judged that foreign service providers must meet the requirements under China's Schedule of Specific Commitments on Services, Shen said.
"However, China takes reservations in the panel's ruling that the electronic payment service belongs to the 'all payment and money transmission services' that China pledged to open up when joining the WTO," Shen added.
The spokesman said that China will seriously review the panel's report, and will properly deal with the ensuing work related to the case in accordance with the WTO's dispute settlement procedures.
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