FOREIGN TRADE LAW OF THE PEOPLE'S REPUBLIC OF CHINA
(Adopted at the 7th Session of the Standing Committee of the 8thNational People's Congress and Promulgated on May 12, 1994)
Chapter I Principles
This Law is formulated with a view to developing the foreign trade, maintaining the foreign trade order and promoting a healthy development of the socialist market economy.
Foreign trade as mentioned in this Law shall cover the import and export of goods, technologies and the international trade in services.
The authority responsible for foreign trade and economic relations under the State Council is in charge of the administration of the foreign trade of the entire country pursuant to this Law.
The State shall apply the foreign trade system on a uniform basis and maintain a fair and free foreign trade order in accordance with law. The State encourages the development of its foreign trade, exercises the initiative of localities and safeguards the autonomy of business operation of the foreign trade dealers.
The People's Republic of China promotes and develops trade ties with other countries and regions on the principles of equality and mutual benefit.
The People's Republic of China shall, under international treaties or agreements to which the People's Republic of China is a contracting party or a participating party, grant the other contracting parties or participating parties, or on the principles of mutual advantage and reciprocity, grant the other party most-favored-nation treatment or national treatment within the field of foreign trade.
In the event that any country or region applies discriminatory prohibition, restriction or other like measures against the People's Republic of China in respect of trade, the People's Republic of China may, as the case may be, take counter-measures against the country or region in question.