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n of the People??s Republic of China to the World Trade Organization Annex 9 (Nov, 11, 2001) Only promised that a. upon accession, foreign freight forwarding agencies which have at least three consecutive years experience are permitted to set up freight forwarding agency joint ventures in China, with foreign investment not to exceed 50 percent; b. with in one year after Can??s accession, foreign majority ownership will be permitted c. with in four years after China??s accession, WOFE will be permitted. Catalogue for the Guidance of Foreign Investment (Mar 11, 2002) Listed in the Restrict Items of the Catalogue with a note that foreign ownership can not be more than 50% (express delivery can not be more than 49%); before 2002, foreign majority ownership will be permitted; WOFE will be permitted before Dec 11, 2005. Administration of Foreign Investment in International Freight Forwarding Agency Services (Dec 19, 2001) a. Investment Area: By the authorization of goods receiver or a consignor, to deal with the international transport and the related business on the consignor??s name or its own name. In detail: i. Booking cabins, to consign for shipment, storage, package, ii??Goods loading and uploading supervisor, loading, stripping, transit of container and related short distance transport service; iii. Clearance of goods at the Customer, appliance for chek??insurance; iv. mend and make related tickets, invoice, delivery the freight fee, account balance, delivery miscellaneous fees or expenses?? v. Freight forward agent for international exhibits, private things and frontier transit. vi. International multimode transport; vii. International Express Delivery; viii. Consultation and other international freight forward business c. Investment Form Contractual joint venture; Equity joint venture; WOFE. d. Investment Conditions i. Among the Chinese parties, there should at least be an International Freight Forwarding Agency with more than 1 year??s experience in this area, or an enterprise with an import and export certificate above 1 year, or a transport or storage enterprise with more than 1 year??s experience in its business. ii. Among the foreign investors, there should at least be an International Freight Forwarding Agency with more than 3 years?? experience in this area, and the foreign investor satisfied this condition should be the majority shareholder among all the foreign investors. iii. The Chinese parties and the foreign investors do not breach any industry regulations. iv. shall have a minimum registered capital of USD 1 million. v. at least 5 employees with more than 3 years?? experience in International Freight Forwarding Agency field; vi. fixed business office; vii. necessary communication, transport, loading and uploading, package facilitates. *Note: For the International Express Delivery business, the main shareholder shall have the qualification with international express delivery business; For those enterprise dealing with International Multimode Transport, shall have below conditions in addition: 1. have deal with the business more than 3 years; 2. have the agency net both abroad and at home; 3. the international transport agency bill of loading has already registered in the Ministry of Commerce. d. Governi