According to the voice, WTO dispute settlement panel be established to make a ruling on this issue, the industry is expected to take at least 12 to 18 months of time to investigate. CCTV connection details Liang Sheng:
Moderator: Electronic Payment to U.S. complaints about the Chinese side have anything to respond? VISA CUP and what kind of attitude?
Reporter: According to the U.S. Trade Representative media quote the views of Ron Kirk in 2010, China's electronic payment transactions totaling hundreds of billions of dollars, but the People's Bank of China started in 2001 issued a series of provisions, are aimed China Union Pay in making the payment card to keep the RMB exchange market dominance. The United States that China violated its in the The China Union Pay, Visa's official said, as the incident involving trade disputes between the two governments, so inconvenient to respond to the incident. WTO law at the Chinese Ministry of Commerce Deputy Commissioner longer than the party had responded in an interview that the bank card, electronic payment of the measures is in line with WTO commitments. Ministry of Commerce of China Academy of International Trade and Economic Cooperation, said Mei Xinyu, researcher, RMB payment card business in China's Protocol of Annex 9, Schedule of Specific Commitments on Trade in Services Article 2 is included in the list of MFN exemptions, The complaint estimates the U.S. to see the list because there is no monopoly of RMB CUP payment card list the contents of the business.
Moderator: Since there was no violation of WTO rules, then sue the United States is derived from what kind of interest demands?
Reporter: Visa overseas channels either block the event, or the extension of trade disputes so far, the fuse point to the Chinese payment market competition and benefit distribution. United States set off the dispute for the sole purpose is to help the credit card giants knocking the door of the Chinese payment market. In recent years, China Union Pay channels to open up overseas on the rapid advance to the international credit card giant Bank of America Visa card monopoly of the world, but in entering the Chinese market Shique being blocked. A few years ago, in order to expand the international market, China Union Pay and Visa co-operation. However, with the CUP in the rapid progress of the international market compared to the business, Visa in China's progress has stalled. International payment card organizations, said that foreign investment in a Chinese bank card in this battle over settlement market is not optimistic, because China's market liberalization is difficult to clearing overnight, clearing the market of foreign capital into China's aspirations may not be able to immediately achieve the desired effect.
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