On The Opening And Supervision Of China 's Electronic Payment Market Under The Framework Of WTO

As a burgeoning means of payment, electronic payment service(“EPS”) has made it significantly convenient for people’s lives and work. And at the same time,EPS has brought big challenges to traditional means of payment and traditional laws and regulations. On 16 July, 2012, World Trade Organization(“WTO”) released the Penal Report on “China – Certain Measures Affecting Electronic Payment Services”,confirming that the settlement service provided by China UnionPay Co., Ltd(“CUP”)is included in “Banking services” in China’s Schedule under GATS, rejecting US’ s claim that CUP has monopoly position. However, the Penal held that the “issuer requirements” and “terminal equipment requirements” violated related regulations of WTO, and required China open its EPS market.This case started by disputes between CUP and VISA finally came to an end, and both parties welcomed the Penal Report. Neither China nor US appealed, but accepted this report. China thinks that all the key claims and requirements have been fulfilled and the result that China can open its market step by step confirms with our development goals.In analyzing the focus of disputes of “ China – Certain Measures Affecting Electronic Payment Services”, this essay tries to summarize the legal essence of this case, and at the same time analyze the opening measures that China has done to execute the Penal Report. Moreover, by referring to related documents, this essay endeavors to summarize the anti-monopoly measures and regulations under WTO frame; by exploring international anti-monopoly cooperation and other countries’ regulations and cases on anti-monopoly of EPS, seek solutions to balance monopoly and opening up process of China’s EPS market.This essay includes four chapters. Chapter One summarizes the outline of the case “China – Certain Measures Affecting Electronic Payment Services”, from the angles of factual aspects and China’s measures. Chapter Two analyzes the related legal issues of this case, makes a comprehensive analysis of the related regulations of EPS under WTO frame, combs WTO laws and regulations, and explore whether China’s related measures has violated its commitments in aspects of market access,national treatment and monopoly. Chapter Three introduces the adjustment of China’s EPS market after this case, by referring to international supervision practice, tries to provide advices on how to improve China’s EPS market after analyzing related problems. Chapter Four makes conclusions that China inclines to open its EPS market,and that China should protect its emerging industry and develop its mature industry in the current international opening situation.