Monopoly And Protection Industry Of RMB Bank Card Payment Under WTO Rules

In July2012, WTO announced the panel report of the United States v. Chinese electronic payment disputes, which rejected the United States’ view that China UnionPay had monopolized the market and China should allow foreign company provide electronic payment services (EPS) through cross-region payment, but the report also identified China mandatory for all payment cards should bear the "Yin Lian"/"UnionPay" logo, and all cards issuers should join UnionPay network and forced all payment terminals using UnionPay network which violates WTO rules. From a global perspective, the U.S. bank card organization by driving out one country’s local bank card organization, have already establish the monopoly position in many countries’bank card market, which threats the independence of a country’s financial markets and equal competition, many countries has paid for such a painful price.In recent years, the volume of China UnionPay card issued is increasing sharply, but its annual transaction is still far from VISA, MasterCard, American Express and other card organizations in the world. As the world’s second-largest economy, China should form an independent payment industry that adapts to the economic development which can effectivly serve the real economy. In order to prevent the U.S. improperly use the international trade rules, which helps the U.S. bank card organization to use its advantage to replace our card organization in the field of RMB payment and gradually control our finace. This thesis gives a brief introduction to the structure of the bank card industry which tells the particularity of the industry, analysis WTO’s relevant provisions of the financial services and GATS on the relevant provisions of the electronic payment service. So as to discriminate the China UnionPay’s monopolization in the domestic market. This thesis also exploring the VISA card organization’s development, as well as the absence of international anti-monoplization rules, and review the experiences of the Western countries’ development of the bank card industry, to absorb the technology and content of legislation, in order to look for a path without monopoly to the development of domestic RMB payment card under the "international trade rules", enhance the international competitiveness of our domestic RMB payment card, and finally prevent our financial security by establishing a strong payment industry of our own.