The Battle of the channel between Visa and UnionPay has evolved into a "trade war"

Absrtact: After six months, the battle of the channel between Visa and UnionPay has evolved into a "trade war". 11th this month, the United States formally applied to the WTO to launch a dispute settlement mechanism for China UnionPay monopoly. At a regular press conference held yesterday (February 17), the News

After half a year, Visa and UnionPay's channel war has evolved into a "trade war". 11th this month, the United States formally applied to the WTO to launch a dispute settlement mechanism for China UnionPay monopoly. At a routine press conference held yesterday (February 17), the spokesman Yao Jian said China had fulfilled its commitment to opening up the service sector in 2008 during its accession to the WTO. "Our attitude is that we will abide by the WTO rules and are willing to adopt the principles of the WTO rules to solve the problem through consultation between China and the United States." ”

As early as last September, the United States Representative Office complained to the WTO about China UnionPay's monopoly. The United States believes that the country's enterprises in the bank card settlement business by China's "unequal" treatment, the two sides of the consultation lasted six months, ultimately fruitless.

Yao said the problem of electronic payment is related to the issue of credit card services, that is, the electronic payment service market for foreign companies entering China. On this issue, China's attitude is very clear, in the course of China's accession to the WTO, in 2008, the implementation of China's accession to the WTO on the opening up of the service industry commitments.

Yao said that China has become the largest exporter, accounting for around 10% of global trade, and that in the process 1% or even less than 1% of trade disputes are common. At the same time, he said, China currently has 5 cases in the world trade in the United States, the United States on Earth trade in 11 cases in China. As China and the United States are trading powers, partners, there are some trade disputes, the rules of the understanding is normal.

He said that we would abide by the WTO rules and would like to adopt the principles of WTO rules to solve the problem through consultation between China and the United States. In fact, the Ministry of Commerce sent a dedicated working group to talk in the United States last October and November. We express our regret that the United States has insisted that no further bilateral consultations be held, that the dispute over the two cases be further resolved in the dispute settlement mechanism, that the Group of experts be established and that the panel is only an initial step in the settlement of the dispute.