US Presses China On WTO Banking, Insurance Promises

Law360, New York (October 31, 2011, 2:55 PM EDT) -- The United States on Monday said that though China had taken steps to bring its financial services and insurance sectors in line with the requirements set out by the World Trade Organization, the country had yet to open its markets to foreign business.

In a statement delivered in Geneva, the Office of the U.S. Trade Representative said that 10 years after joining the WTO, China's financial services and insurance industries remain closed off from the global community.

The USTR's comments came at the 10-year review of...
To view the full article, register now.