From this year, China allowed the membership companies of the WTO and other economic organizations or individuals to set up sole foreign-funded road transport enterprises in China. The open-up of China’s road transport market has reached the highest level promised since entering the WTO.

In order to further open up the road transport market and protect the legitimate rights of foreign investors, China will take the following measures: revise and abolish those rules and regulations that serve trade protectionism and interference fair competitions to get rid of local blockade and protectionism.

The legal sole foreign-funded road transport enterprises will be treat equal in China and enjoy equal rights as Chinese people. Foreign investors are encouraged to invest in China’s road transport enterprises in “three forms” (wholly foreign-funded enterprises, Sino-foreign joint ventures and cooperative enterprises) to explore and expand the ways of utilizing foreign capitals. The domestic transport enterprises are encouraged and supported to cooperate with the neighbor countries of Europe and Asia in international road transport industry, and foreign investors are encouraged to invest in road transport industry in western and northeast China. They are also encouraged to invest in road transport infrastructures, especially in passenger transport stations in rural areas and the freight transport stations and vehicles in cities.

By the end of 2004, among the 919 foreign-funded road transport enterprises approved by the Ministry of Communications of China (MOC), 122 enterprises are newcomers after China’s entering to the WTO, with a total investment of $1.3 billion.