Ministry_of_Commerce_(China)

Ministry of Commerce (China)

Ministry of Commerce (China)

Chinese government ministry

"Ministry of Foreign Economic Relations" redirects here. For other uses, see Ministry of Foreign Economic Relations (Serbia) and Ministry of Foreign Economic Relations (Soviet Union).

The Ministry of Commerce (MOFCOM) is a executive department of the State Council of the People's Republic of China that is responsible for formulating policy on foreign trade, export and import regulations, foreign direct investments, consumer protection, market competition (competition regulator) and negotiating bilateral and multilateral trade agreements. it is the 20th-ranking department of the State Council. The current minister is Wang Wentao.

Quick Facts Agency overview, Formed ...
Quick Facts Simplified Chinese, Traditional Chinese ...

History

Before October 1949, the Ministry of Economic Affairs was the governing agency of the Republic of China on the mainland responsible for economic trade issues. The agency was created in 1931 and reorganized in 1937.[citation needed]

In November 1949, a month after the People's Republic of China was established, the Chinese Communist Party formed the Ministry of Trade (贸易部) while the MOEA continued to operate in Taiwan and several other islands.[citation needed]

In August 1952, the Ministry was renamed to Ministry of Foreign Trade (对外贸易部). Ye Jizhuang was the first Minister and died in the post in 1967.[citation needed]

In March 1982, the Ministry of Foreign Trade was merged with the Ministry of Foreign Economic Liaison (对外经济联络部), the State Import and Export Regulation Commission (国家进出口管理委员会), and the State Foreign Investment Regulation Commission (国家外国投资管理委员会), and became the Ministry of Foreign Economic Relations and Trade (对外经济贸易部).[citation needed]

In March 1993, the Ministry of Foreign Economic Relations and Trade was renamed to the Ministry of Foreign Trade and Economic Cooperation (对外贸易经济合作部).[1][non-primary source needed]

In the spring of 2003, the former Ministry of Foreign Trade and Economic Cooperation went through a reorganization and was renamed Ministry of Commerce. During 2003, the Ministry established Forum Macao in the Macao Special Administrative Region as a multi-lateral mechanism for cooperation between China and the Portuguese-speaking countries.[2]: 62 

In 2006, the Ministry of Commerce oversaw the program of "ten thousand businesses advance westward" in conjunction with the Hu-Wen administration's early emphasis on balancing regional development.[3]: 217 

The ministry also incorporates the former State Economic and Trade Commission and the State Development Planning Commission.

Ministry of Trade
(1949)
Ministry of Foreign TradeMinistry of Foreign Economic LiaisonState Import and Export Regulation CommissionState Foreign Investment Regulation Commission
Ministry of Foreign Trade and Economic Cooperation
(1993)		State Economic and Trade CommissionState Development Planning Commission
(1998)
Ministry of Commerce
(2003)

In 2018, the ministry lost its powers and responsibilities regarding anti-monopoly, intellectual property, counterfeit goods, foreign aid, and some financial products to other departments.[4]

Functions

The MOFCOM is in charge of the administration of foreign trade and is China's primary foreign trade negotiator.[5]: 210  It additionally is responsible for domestic trade, export and import regulations, foreign direct investment, market competition, commodity market operations, consumer protection, industrial damage investigations, implementing anti-dumping and countervailing measures, international cooperation, and relations with the World Bank. It works with the National Development and Reform Commission to draft negative lists for foreign investments at the national level and for special economic zones.[4]

MOFCOM is China's most important negotiator in the global governance of intellectual property.[5]: 210–211 

MOFCOM additionally has responsibilities on economic relations with Hong Kong, Macau and Taiwan.[4] To that end the Vice Minister An Min, and the previous Financial Secretary of Hong Kong, Antony Leung, concluded the Closer Economic Partnership Arrangement (CEPA). New agreements are continually negotiated between An and the current Financial Secretary John Tsang under the auspices of the CEPA. Similar agreements were also concluded between the MOFCOM and Secretariat for Economy and Finance of Macau.[citation needed]

List of ministers

More information Name, Took office ...

Structure

A ministerial-level MOFCOM vice minister serves as the International Trade Representative, representing China at bilateral and multilateral trade agreements.[4]

The Ministry of Commerce is structured into the following departments:[7]

More information Departments, Specialized ...

See also

References

  1. [1]
    "Chinese Ministry of Foreign Trade and Economic Cooperation". www.fmprc.gov.cn. Retrieved 2021-11-30.
  2. [2]
    Shinn, David H.; Eisenman, Joshua (2023). China's Relations with Africa: a New Era of Strategic Engagement. New York: Columbia University Press. ISBN 978-0-231-21001-0.
  3. [3]
    Ang, Yuen Yuen (2016). How China Escaped the Poverty Trap. Cornell University Press. ISBN 978-1-5017-0020-0. JSTOR 10.7591/j.ctt1zgwm1j.
  4. [4]
    "Decoding Chinese Politics". Asia Society. Retrieved 2 October 2023.
  5. [5]
    Cheng, Wenting (2023). China in Global Governance of Intellectual Property: Implications for Global Distributive Justice. Palgrave Socio-Legal Studies series. Palgrave Macmillan. ISBN 978-3-031-24369-1.
  6. [6]
    Gene T. Hsiao (1977). The Foreign Trade of China: Policy, Law, and Practice. University of California Press. p. 71. ISBN 978-0-520-03257-6.
  7. [7]
    Archived April 1, 2008, at the Wayback Machine
Share this article:

This article uses material from the Wikipedia article Ministry_of_Commerce_(China), and is written by contributors. Text is available under a CC BY-SA 4.0 International License; additional terms may apply. Images, videos and audio are available under their respective licenses.