WTO snubs monopoly allegations
Source: Xinhua |
September 1, 2012, Saturday
|
Print Edition
Print Edition
THE World Trade Organization yesterday adopted a panel report on China's measures affecting electronic payment service, a dispute raised by the United States, at its Dispute Settlement Body meeting.
The US requested consultations with China on September 15, 2010, claiming that China acted inconsistently with its obligations by letting only China UnionPay to supply electronic payment services for payment card transactions denominated and paid in yuan in China.
China said at the meeting that it welcomes the panel's rejection of the unfounded "monopoly" claims by the US.
However, "China is troubled, in particular, by the panel's approach to the classification of the services at issue in this dispute," the Chinese delegation said.
The report said the panel rejected the US claim that China maintains UnionPay as a monopoly supplier for the processing of all domestic yuan payment card transactions due to insufficient evidence.
But it said China acted inconsistently with its market access commitment in maintaining the company as a monopoly supplier for the clearing of certain types of yuan-denominated payment card transactions.
The US requested consultations with China on September 15, 2010, claiming that China acted inconsistently with its obligations by letting only China UnionPay to supply electronic payment services for payment card transactions denominated and paid in yuan in China.
China said at the meeting that it welcomes the panel's rejection of the unfounded "monopoly" claims by the US.
However, "China is troubled, in particular, by the panel's approach to the classification of the services at issue in this dispute," the Chinese delegation said.
The report said the panel rejected the US claim that China maintains UnionPay as a monopoly supplier for the processing of all domestic yuan payment card transactions due to insufficient evidence.
But it said China acted inconsistently with its market access commitment in maintaining the company as a monopoly supplier for the clearing of certain types of yuan-denominated payment card transactions.
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