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2007年4月WTO对中国澳门贸易政策审议-WTO秘书处报告(英文)

World Trade

Organization

RESTRICTED

 

WT/TPR/S/181

26 March 2007

 

 

(07-1169)

 

 

Trade Policy Review Body

 

 

 

 

 

 

 

 

TRADE POLICY REVIEW

 

Report by the Secretariat

 

MACAO, CHINA

 

 

 

 

This report, prepared for the third Trade Policy Review of Macao, China, has been drawn up by the WTO Secretariat on its own responsibility.  The Secretariat has, as required by the Agreement establishing the Trade Policy Review Mechanism (Annex 3 of the Marrakesh Agreement Establishing the World Trade Organization), sought clarification from Macao, China on its trade policies and practices.

 

Any technical questions arising from this report may be addressed to Mr. Mario Kakabadse (tel:  022 739 5172).

 

Document WT/TPR/G/181 contains the policy statement submitted by MacaoChina.

 

 

 

Note:    This report is subject to restricted circulation and press embargo until the end of the first session of the meeting of the Trade Policy Review Body on Macao, China.


CONTENTS

 

                                                                                                                                                                                                Page

 

SUMMARY OBSERVATIONS                                                                                                                                               vii

                (1)           Economic Environment   vii

                (2)           Trade and Investment Regime  viii

                (3)           Trade Policies and Practices  viii

                (4)           Sectoral Policy Developments  ix

                (5)           Outlook   x

I.              Economic environment   1

                (1)           Introduction   1

                (2)           Recent Economic Developments  2

                (i)            Macroeconomic performance  2

                (ii)           Macroeconomic policies  6

                (iii)          Balance of payments  8

                (iv)          Structural policies  9

                (3)           Developments in Merchandise Trade  9

                (i)            Composition of merchandise trade  10

                (ii)           Direction of trade  10

                (4)           Foreign Direct Investment   13

                (5)           Outlook   14

II.            trade policy regime:  framework and objectives  15

                (1)           Introduction   15

                (2)           General Constitutional and Legal Framework   15

                (3)           Trade Policy Formulation and Implementation   17

                (4)           Trade Policy Objectives  21

                (5)           Trade Agreements and Arrangements  22

                (i)            Multilateral agreements  22

                (ii)           Regional agreements  23

                (iii)          Bilateral agreements  23

                (6)           Trade Disputes and Consultations  25

                (7)           Foreign Investment Regime  25

III.           trade policies and practices by measure  28

                (1)           Introduction   28

                (2)           Measures Directly Affecting Imports  29

                (i)            Procedures  29

                (ii)           Customs valuation and rules of origin  30

                (iii)          Tariffs  30

                (iv)          Other charges on imports  31

                (v)           Import licensing, prohibitions, and other restrictions  32

                (vi)          Anti-dumping, countervailing, and safeguard measures  35

                (vii)         State trading, countertrade, and cartels  35

                                                                                                                                                                                                Page

 

                (viii)        Standards and other technical requirements  35

                (ix)           Trade-related investment measures  38

                (x)            Government procurement 38

                (3)           Measures Affecting Exports  41

                (i)            Procedures and documentation  41

                (ii)           Export taxes, charges, and levies  41

                (iii)          Export cartels and other arrangements  42

                (iv)          Export prohibitions, restrictions, and licensing  42

                (v)           Export support 43

                (vi)          Export finance, insurance, and guarantees  43

                        (vii)         Export promotion and marketing assistance                                                                         43

                (4)           Measures Affecting Production and Trade  43

                (i)            Taxation system and tax incentives  43

                (ii)           Non-tax incentives and other forms of assistance  46

                (iii)          Intellectual property rights protection  49

                (iv)          Competition policy  52

                (v)           Corporate governance  54

iV.           trade policies by sector   55

                (1)           Introduction   55

                (2)           Manufacturing  56

                (i)            Textiles and clothing  57

                (ii)           Industrial diversification  58

                (iii)          Construction  59

                (3)           Services  59

                (i)            Telecommunications  61

                (ii)           Financial services  64

                (iii)          Transport 68

                (iv)          Tourism   71

                (v)           Gaming  72

references                                                                                                                                                                             77

APPENDIX TABLES     79

 

 

 


                                                                                                                                                                                                Page

CHARTS

 

I.              ECONOMIC ENVIRONMENT

I.1            Production composition of merchandise trade, 2001 and 2005                                                                          11

I.2            Direction of merchandise trade, 2001 and 2005                                                                                                     12

 

II.            TRADE POLICY REGIME:  FRAMEWORK AND OBJECTIVES

 

II.1          Structure of the Secretariat of Economy and Finance                                                                                         18

II.2          Structure of Macao Economic Services                                                                                                                 18

 

 

TABLES

 

I.              ECONOMIC ENVIRONMENT

 

I.1            Major features of Macao, China's economy, 2006                                                                                                 2

I.2            Performance of Macao, China's economy, 2000-06                                                                                                3

I.3            Resident and non-resident workers, 2003-06                                                                                                          5

I.4            Government budget and fiscal reserves, 2000-06                                                                                                   7

I.5            Balance of payments, 2000-05                                                                                                                                   8

I.6            Inward direct investment by industry and investors' place of residence, 2001-05                                          13

 

II.            TRADE POLICY REGIME:  FRAMEWORK AND OBJECTIVES

 

II.1          Main trade-related legislation in Macao, China                                                                                                    19

II.2          Selected notifications by Macao, China under WTO Agreements, March 2007                                            22

II.3          Macao, China's exports under GSP treatment, 2001-05                                                                                        25

 

III.           TRADE POLICIES AND PRACTICES BY MEASURE

 

III.1         Consumption taxes, 2006                                                                                                                                          31

III.2         Responsibility of government bodies for import authorizations, 2001 and 2005                                             32

III.3         Import licensing regime, 2005                                                                                                                                  33

III.4         Accredited laboratories, December 2005                                                                                                               36

III.5         Government procurement, 2001-05                                                                                                                         39

III.6         Local and foreign procurement contracts, 2001-05                                                                                              39

III.7         Type of tendering in public sector construction projects, 2003-06                                                                   40

III.8         Regulated exports and governing legislation, 2001 and 2005                                                                             42

III.9         Government account, 2001-06                                                                                                                                 44

III.10       Main types of taxation and related incentives in Macao, China                                                                        44

III.11       Estimated tax revenues forgone as a result of incentives/exemptions, 2001-05                                              45

III.12       Subsidies granted, 2001-05                                                                                                                                      46

III.13       Violations of intellectual and industrial property rights, 2001-05                                                                      51

 

IV.           TRADE POLICIES BY SECTOR

 

IV.1         Production-based GDP at current prices by sector, 2002-05                                                                              55

IV.2         Employed population by economic activity, 2003-05                                                                                          55

IV.3         Structure of manufacturing industry, 2005                                                                                                            57

IV.4         Telecommunication market, 1999-05                                                                                                                       62

 

 

                                                                                                                                                                                                Page

 

IV.5         Major financial sector indicators, 2001-05                                                                                                             64

IV.6         Financial institutions, 2001-05                                                                                                                                 65

IV.7         Total visitor arrivals, by source and method of travel, 2000-06                                                                         68

IV.8         Total exports by means of transport, 2001-05                                                                                                       69

IV.9         Macao, China visitors receipts, 2000-06                                                                                                                72

IV.10       Investment projects of gaming concessionaires and sub-concessionaires, 2006                                           74

IV.11       Gross revenue of concessionaires and share of total gross revenue of games of fortune, 2002-06            75

IV.12       Overview of gaming in Macao, China, 2002-06                                                                                                     76

 

 

 

APPENDIX TABLES

 

I.              ECONOMIC ENVIRONMENT

 

AI.1(a)    Total merchandise exports by group of products, 1999-05                                                                                 81

AI.1(b)   Domestic merchandise exports by group of products, 1999-05                                                                         82

AI.1(c)    Merchandise re-exports by group of products, 1999-05                                                                                     83

AI.2        Merchandise imports by group of products, 1999-05                                                                                          84

AI.3(a)    Total merchandise exports by destination, 1999-05                                                                                             85

AI.3(b)   Domestic merchandise exports by destination, 1999-05                                                                                      86

AI.3(c)    Merchandise re-exports by destination, 1999-05                                                                                                  87

AI.4        Merchandise imports by origin, 1999-05                                                                                                                88

 

 

 

 

 

 

 


SUMMARY OBSERVATIONS

1.                  The economy of Macao, China having recovered from the Asian financial crisis and subsequently SARS, grew at an average annual rate of 14.5% in the period 2001 to 2005;  in 2006, growth is expected to have been well above that average, perhaps close to 20%.  Growth has been led by a rapid increase in tourism, underpinned by the gaming industry.  While the overall direction of trade and investment policies of the Macao Special Administrative Region (SAR) is broadly the same as at the time of its previous Review in 2001, great emphasis has been placed since 2002 on the opening of gaming, which now constitutes the cornerstone of the economy of the Macao SAR.  Competition between gaming operators has stimulated massive private investment in casinos, hotel resorts, and other tourist facilities, and this is expected to continue into the foreseeable future.  In the same period there has been a significant and increasing inflow of tourists from the Mainland.  The introduction in 2003 of the "Individual Traveller Scheme", which relaxed visa restrictions on travel by Mainland Chinese, has enabled a strong growth in tourism to Macao, resulting in the more than doubling of visitors to over 22 million between 2000 and 2006.

(1)               Economic Environment

2.                  Badly hit by the 1997-98 Asian financial crisis, the economy recovered in 2000 in response to external demand  and then slowed as the world economy entered a sharp downturn.  Growth since then has been strong with GDP growing by 10.1% in 2002, supported by a strong expansion in gaming and tourism.  Except for a temporary decline of 3.1% in the second quarter of 2003, due to the effects of the SARS outbreak, the economy experienced strong growth in the second half of that year, partly supported by the introduction of the Individual Traveller Scheme, which led to a tourism boom in the latter months of 2003.  The expansion in the tourism sector continued into 2004 as strong investments continued to be made in infrastructure as well as in casinos and hotels.  The overall result was a very impressive and historically high 28% growth of GDP in 2004.  Real GDP growth was more moderate in 2005 at 6.7%.  The inflation rate rose from 1% in 2004 to 4.4% in 2005, reflecting the overall rapid pace of economic growth.

3.                  Macao, China's currency, the pataca, remains pegged to the Hong Kong dollar and hence indirectly to the U.S. dollar.  This means that interest rates in Macao, China are determined largely by the U.S. Federal Reserve, rather than the territory's monetary authority.  The Currency Board Arrangement,  which ensures full backing of monetary liabilities, is the underlying monetary mechanism to support the linked rate.  Foreign reserves stood at US$6.7 billion at the end of 2005 compared with US$3.3 billion at the end of 2000, representing approximately nine times the monetary base and covering 11.8 months of the total value of imports of goods and services in 2005.

4.                  The Basic Law requires the MSAR Government to strive to achieve fiscal balance, and throughout the period under review, the Government has consistently run a budget surplus, mainly on the basis of revenue from the gaming industry.  The fiscal position has benefited from a thriving economy in recent years;  income from gaming tripled between 2001 and 2005.

5.                  Macao, China is heavily dependent on the external sector. In 2005, exports of goods and services were equivalent to 96% of GDP.  Gaming and related tourism services constitute the core of the economy with gross gaming receipts accounting for 49% of GDP in 2005 and direct taxes on gaming providing 75% of  government revenue in 2006.  Flows of foreign direct investment into MacaoChina more than tripled between 2001 and 2004 and  nearly quadrupled in the recreational and gaming sector;  it is expected to increase substantially in 2006 and beyond.  Previous foreign investment projects have been dwarfed by recent commitments by foreign investors to develop the gaming, hotels, and conventions subsector.  The liberalization of the gaming industry, and the competition thereby unleashed, have played an important role in attracting new investments.

(2)               Trade and Investment regime

6.                  In line with the principle of "one country, two systems", the Basic Law, the main constitutional document governing the MSAR, grants it a high degree of autonomy in economic matters including the conduct of foreign trade relations.  Macao, China's institutional and policy framework has remained largely unchanged during the review period.  The main change in trade policy since 2001 is the implementation in 2004 of a free‑trade agreement, the Closer Economic Partnership Arrangement (CEPA), with Mainland China aimed at developing joint economic prosperity and development through liberalization of goods and services trade.  Macao SAR exports more services than merchandise and it is possibly the services sector, and the sale of services to the Pearl River Delta region of neighbouring Guandong province, rather than manufacturing, that will make more effective use of preferential access to the Chinese market under CEPA's services provisions.  Macao, China's trade and investment regime remains relatively open and, in general, continues to rely on market forces to determine the allocation of resources in the manufacturing sector, which however, now accounts for only 5% of GDP.  The partial liberalization of the services sector has played a key role in government efforts to diversify the economy by attracting foreign investment and maintaining an investor-friendly environment.

(3)               Trade Policies and Practices

7.                  Restrictions at the border are few. Imports enter the Region duty-free although the scope of Macao, China's bindings remains limited.  Nearly 70% of Macao, China's tariff lines have not been bound although it seems that there are plans to progressively expand their coverage.  Tariff lines are bound at a zero rate, and this, together with Macao, China's status as a free port under the Basic Law,  would appear to exclude increases in applied rates for bound tariff lines as well as those that are unbound.  Although consumption taxes are levied on imports and domestically produced goods alike, they fall disproportionately on imports since there is little or no domestic production of these goods.  Steps in trade facilitation have focused on the introduction of electronic customs clearance and documentation procedures.  The few non‑tariff border measures include import licensing and prohibitions aimed at ensuring security as well as protecting public health and the environment.  Correspondingly, there are virtually no government controls on exports other than export licensing and restrictions maintained for implementing UN sanctions.  Licensing  arrangements under the WTO Agreement on Textiles and Clothing were eliminated at the end of 2004.  MacaoChina has no legal instrument protecting domestic producers from the entry of dumped or subsidized products nor is there any legislation on safeguards.

8.                  In 2001, optical-media piracy constituted a serious problem for the authorities.  During the review period, MacaoChina has made a number of improvements in reinforcing protection of intellectual property rights.  It has tightened controls over optical disc manufacturing and stepped up street-level IPR enforcement.  Also, Macao, China's courts have implemented an expedited prosecution system that allows a suspect to be brought to trial expeditiously.  It appears that as a result of such enforcement actions, virtually all illicit optical disc manufacturers in Macao, China have been shut down.

9.                  Macao, China, which is not a party to the GPA, has not made any significant changes to its legislation on government procurement since 2001, but it has taken steps to simplify procedures and enhance transparency in order to attract more bids.  However, in the construction sector, open tendering has accounted for less than 10% of tenders during the period under review.

10.              Macao, China's tax system is characterized by a low overall level of taxation and a pronounced reliance on direct taxes, in particular those derived from gaming, which account for three quarters of government revenue.  As in 2001, most direct taxes, including those on profits and employment income, are levied at low rates, which helps to make Macao, China attractive to domestic and foreign investors.  At the same time, the tax system is the main instrument used to assist production and trade with various tax incentives for projects that promote industrial diversification, create employment, foster technological development, and encourage exports.  The Government has also increased funds for small and medium‑sized enterprises.

11.              Policy-making seems unnecessarily opaque in several areas, such as government procurement, use of tax incentives, and the allocation of government-owned land, a potentially important policy instrument given the scarcity of land in Macao, China.  Also, there appears to be a lack of transparency in policy and decision-making in a number of services subsectors.

12.              Although Macao, China has no comprehensive competition policy, the 1999 Commercial Code lays down general rules to protect economic freedom and curb business practices that restrain competition.  At the sectoral level, the most important economic policy action taken during the review period to open up competition has been the liberalization of the gaming sector after the private monopoly officially came to an end in 2002.  In the telecommunications sector the mobile phone market has been liberalized.  However, other key services, such as basic telecom, electricity, water, and transport continue to be provided by private companies with exclusive rights under government concessions.

(4)               Sectoral Policy Developments 

13.              Over the past two decades, Macao has been transformed from a manufacturing centre into a predominantly services-oriented economy, which now relies heavily on gaming and related tourism earnings.  The services sector accounts for almost 90% of GDP and 75% of  total employment.  The Government expects this trend to continue, owing to heavy investments in resort and entertainment projects and related infrastructural development, which are transforming Macao SAR into the world's leading gaming destination.  Gaming and tourism are set to remain the basis of economic growth;  to attract higher-end tourists, the authorities are encouraging the development of non-gambling attractions, building the image of a stable society, and continuing to manage gambling liberalization in an orderly manner.  In this respect, legislation passed in 2006 is an important step in establishing an effective anti-money laundering regime.

14.              At the time of Macao, China's previous Review, in 2001, it was suggested that competition in several services markets – provided by private companies with exclusive rights under government concessions – could be improved.  In particular, gaming services were a private monopoly.  By liberalizing gaming ownership and granting licences to three bidders in 2002 (subsequently expanded to include three further sub-concessions), the Macao SAR authorities introduced competition and injected new dynamism into the sector, with positive spill-over effects on the rest of the economy.  Casino magnates from Hong Kong, China, the United States, and Australia are leading the gaming industry towards growth as their companies compete for market share.  Consumers, including gamblers, convention goers, and tourists, are increasingly able to choose from a bigger variety of mass-market games, shows and entertainment, and hotels and restaurants.  The massive investment under way in hotels, resorts, and casinos has led to Macao outstripping Las Vegas in terms of casino gaming revenues for 2006.

15.              The authorities have also partially liberalized the telecommunications sector, opening up mobile communications and internet services to competition.  The competitiveness of other key services, such as basic telecommunications, electricity, water, and  transport, where there have been monopoly restraints on competition, are being severely tested by the frenetic pace of construction of new resort and casino projects, the requisite infrastructural development, and the large and increasing influx of visitors.

16.              The manufacturing sector's declining share of GDP was 4.3% in 2005 although it still accounts for around 15% of employment, indicating lagging productivity with respect to the rest of the economy.  In response to the decline of manufacturing, dominated by textiles and clothing, and the abolition of textiles quotas in 2005, the authorities are trying to use the resources and opportunities offered by the Closer Economic Partnership Agreement (CEPA) with Mainland China;  they are encouraging manufacturers to bring new industries into the newly established Macao-Zhuhai Transborder Industrial Park to expand the narrow base of the existing manufacturing structure.  The objective is to attract higher-end manufacturing production in order to take the advantage of the tariff concessions under the CEPA to access the larger Mainland Chinese market.  Agriculture's importance is negligible and no official information on its contribution to Macao SAR's GDP is published.

17.              In part to hedge against the risk of demand not keeping pace with supply in the tourism sector, the Government has taken measures to encourage the diversification of the economy.  It introduced a number of incentive schemes for industrial sectors, including the introduction of a guaranteed loan scheme to small and medium-sized enterprises, as well as fiscal incentives for the corporate sector as a whole.

(5)               Outlook

18.              The economy again grew rapidly in 2006, at some 15.4% in the past three quarters of the year and subsequently accelerating, for an expected annual rate of close to 20%.  Services exports remained the main driving

force of the territory's economy.  As large construction projects come on stream, the opening of brand-name casinos, hotel resorts, and other tourism-related facilities are expected to be strong tourist attractions.  Visitor arrivals have continued to increase along with the wider implementation of Mainland China's Individual Traveller Scheme and, as of May 2006, covers residents from 44 Chinese cities among the highest in terms of annual income and consumption expenditure.  The inflation rate is expected to have edged up to over 6%, and the unemployment rate to have dropped further to below 4% as new jobs were created by new large hotels and casinos and related services.  For 2007, the authorities expect economic growth to continue in the 12-15% range on the basis of strong capital formation and growth in services exports.

19.              The main thrust of economic policy in the years after 2006 will be to ensure the smooth progress of gambling sector liberalization in coordination with the healthy development of other sectors.  As was made clear in the MSAR Chief Executive's Policy Address for 2007, the gaming industry is only one constitutive element in the tourism sector, which is not focused on pursuing a path of unilateral development based on gaming.  The high dependence on gaming and tourism poses risks to economic stability.  The tourism sector tends to be highly sensitive and vulnerable to external shocks, such as avian flu or other epidemics;  adverse performance in the MSAR's main tourism markets;  or shifts in overseas interest in casino investment.  The Government is therefore prudently pursuing efforts to diversify the economy in general and the tourism market in particular.  Regarding the latter, the many new private investment projects have the potential to turn MacaoChina's economy from a day-trip market heavily dependent on gaming revenues to a more diversified family resort and business-conference destination.

 

 

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