Review materials for "International Trade Theory and Practice"

Term explanation part:

1. Trade terms - generated in long-term international trade practice, A specialized term used to indicate the price structure of goods and explain the division of risks, responsibilities, and expenses related to the handover of goods.

2. Symbolic delivery - as long as the seller completes the shipment at the agreed location on time and submits the relevant documents stipulated in the contract, including the certificate of title to the goods, to the buyer, it will be considered as fulfilling its delivery obligation. , without guaranteeing arrival. The seller delivers against the document and the buyer pays against the document.

3. Good average quality - the average quality level of goods exported from a certain place within a certain period of time, generally refers to medium goods. (Refers to the average quality of agricultural products in each production year, and refers to the "average quality" of the same commodity shipped at the shipping location in a certain quarter or a certain shipping month)

4. Quality Tolerance - International recognized product quality errors. In the production process of industrial finished products, certain errors in product quality indicators are sometimes unavoidable.

5. Quality flexibility - the quality of some primary products is unstable. In order to facilitate smooth transactions, while stipulating the quality indicators, a certain quality flexibility can be set to allow the seller to pay The quality indicators of goods are flexible within a certain range.

6. Overload and underload clause - When delivering goods, the seller can pay more or less by a certain percentage according to the quantity in the contract. He usually adds it to the quantity clause. (Bulk cargo: grain, ore, etc.)

7. Neutral packaging - that is, packaging that does not indicate the country of production, place name, manufacturer name, nor trademark or brand. (Unbranded neutral packaging, customized neutral packaging)

8. Customized branding - the seller shall mark the buyer's designated trademark or brand on the goods or packaging it sells according to the buyer's requirements.

9. Demurrage - If the party responsible for loading and unloading the goods fails to complete the task according to the agreed loading and unloading time and loading and unloading rate, it needs to pay a penalty for delaying the shipping date to the ship.

10. Dispatch payment - If the party responsible for loading and unloading cargo completes the task ahead of schedule within the agreed loading and unloading time, which will help speed up the ship's turnover, it can obtain a bonus from the ship.

11. OCP terms - locations usually accessible by land transportation. The OCP area is bounded by the Rocky Mountains, and the areas east of it are designated as inland areas. If goods are exported from the Far East to the U.S. OCP region and a transaction is concluded according to OCP terms, the export can enjoy lower OCP preferential shipping rates. Importers can also enjoy OCP preferential rates for inland transportation.

12. Bill of lading (B/L) - is a document issued by the carrier or its agent to the shipper after receiving the goods. It reflects the mutual agreement between the carrier and the shipper. relation.

13. Combined transport bill of lading - used in combined transportation consisting of sea transportation and other modes of transportation. It is issued by the carrier (or its agent) at the place of departure of the goods and transported to the final destination of the goods. bill of lading and charge full freight.

14. Expired bill of lading - the bill of lading is later than the arrival of the goods at the port of destination; the time for presentation to the bank exceeds the date of issuance of the bill of lading by 21 days.

15. Multimodal transport document - a document that proves the multimodal transport contract and proves that the multimodal transport operator takes over the goods and is responsible for delivering the goods in accordance with the terms of the contract. It is issued by the multimodal transport operator. This kind of The documents shall be either negotiable or non-negotiable at the option of the consignor.

16. General average (GA) - A ship carrying cargo encounters a disaster or accident at sea, threatening the general safety of the cargo and other aspects. In order to eliminate this threat To maintain the safety of the cargo, the voyage can continue to be completed, and the ship consciously and reasonably takes measures to cause some special losses or pay special additional expenses.

17. Cabin-to-cabin clause - Insurance liability begins when the insured goods leave the warehouse and storage space at the place of departure specified in the insurance policy, including normal transportation by sea, land, inland rivers, and barges Transportation is included until the goods arrive at the final warehouse or storage location of the destination consignee specified in the insurance policy, or other storage locations used by the insured for distribution, distribution or abnormal transportation. However, the insurance liability is limited to 60 days after the insured's cargo finally arrives at the unloading port and is unloaded from the ship.

18. Joint certificate - is a more simplified insurance certificate. In our country, insurance institutions add the insurance number, risk type, amount, and seal of the insurance institution on the commercial invoices of foreign trade enterprises, which serve as underwriting certificates. The remaining items are subject to what is listed on the invoice. This kind of certificate cannot be transferred and is currently only applicable to letters of credit issued by Chinese businessmen from some Chinese-funded banks in Hong Kong.

19. Insurance policy - is the insurance company's proof of coverage for the insured, and is a contract that stipulates the respective rights and obligations of both the insurer and the insured. When the insured goods suffer losses within the scope of the insurance, When insurance claims are made, it is the main basis for claims settlement.

20. Equivalent sample - the seller can process and copy a similar sample based on the sample provided by the buyer and give it to the buyer for confirmation. This confirmed sample is called a return sample (confirmation sample).

21. Price adjustment clause - only stipulates the preliminary price when making the contract, and also stipulates that if the price of raw materials and wages, etc. change, the contract price will be calculated based on the changes in raw material prices and wages, etc. Final price. (Mainly applicable to contracts for goods such as machinery and equipment with relatively short production and processing cycles)

22. Bill of exchange (Draft) - a bill issued by one person to another person upon demand or at a fixed date in the future. An unconditional written order to pay a certain amount of money at a time, or at a determinable time, to a person or his nominee or bearer.

23. Endorsement - a procedure for transferring the rights of a bill of exchange. The payee of the bill of exchange signs his or her name on the back of the bill of exchange, or adds the name of the transferee, and hands the bill to the seller. behavior that makes people behave.

24. Check - a demand draft with a bank as the payee, that is, an unconditional entrustment order issued by the depositor to the bank to pay a certain amount, and the drawer issues a certain amount on the check. The amount requires the bank accepting the bill to immediately pay a certain amount to a specific person or holder when the bill is presented.

25. Document against payment D/P - The exporter's presentation is conditional on the importer's payment.

D.P. at sight - The bank presents the sight draft and documents. The importer pays the bill at sight and obtains the documents after paying off the payment.

D.P. against Usance - The bank prompts the usance draft. The importer will accept the draft after checking it and it will be paid in full on the due date before receiving the shipping documents.

26. Document against Acceptance D/A - The exporter's document is conditional on the importer's acceptance of the bill of exchange. The importer will not fulfill its payment obligation until the bill of exchange matures. (Only applicable to the collection of usance drafts)

27. Trust receipt - a written credit guarantee document provided by the importer when borrowing a bill to express his willingness to serve as the trustee of the collecting bank Pick up, store, store, insure, and sell the goods on your behalf, and acknowledge that the ownership of the goods still belongs to the bank.

28. Letter of Credit L/C - A written document issued by a bank with a conditional commitment to pay. It is also a guarantee from the issuing bank to the beneficiary. As long as the beneficiary fulfills the provisions of the letter of credit, Conditions, that is, as long as the beneficiary submits various documents that comply with the provisions of the letter of credit, the issuing bank will guarantee payment. (Bank credit)

29. Back-to-back letter of credit (reissued letter of credit) - the beneficiary requires the advising bank or other bank of the original letter to issue a new one with similar content based on the original letter. letter of credit.

30. Folio letter of credit - a letter of credit issued by the applicants for two letters of credit with each other as the beneficiary. The purpose of opening a letter of credit is to achieve a trade balance and prevent the other party from only taking out but not taking in or only taking in but not taking out.

31. Standby letter of credit - is a special form of letter of credit, which is a certificate that the issuing bank assumes an obligation to the beneficiary. The issuing bank guarantees that when the issuing applicant fails to perform its obligations, the beneficiary only needs to issue a draft to the issuing bank based on the provisions of the standby letter of credit, and attach a statement or supporting documents stating that the issuing applicant has failed to perform its obligations. , you can get reimbursement from the issuing bank.

32. Letter of Guarantee (L/G) - a written credit guarantee certificate issued by a bank, insurance company, guarantee company or individual to a third-party beneficiary at the request of the applicant. The guarantor The applicant shall be liable for compensation for its debts or obligations to be performed.

33. Deposit - one party to a contract pays a certain amount of money in advance to the other party according to the contract to ensure the conclusion of the contract, the establishment of the contract, the performance of the contract, and to retain the right to terminate the contract. wait.

34. Force majeure - after the sales contract is signed, it is not due to the fault or negligence of the parties to the contract, but due to the occurrence of events that the parties to the contract cannot foresee, prevent, avoid, or control, resulting in the inability to perform or the inability to If the contract is performed as scheduled, the party who suffers an accident can be exempted from the responsibility to perform the contract or postpone the performance of the contract. (Disclaimer)

35. Offer (offer) - any proposal to conclude a contract is made to one or more specific persons, if its content is very certain and shows that the offeror has The intention to be bound once an offer is accepted constitutes an offer.

36. Acceptance (commitment) - the offeree expresses its agreement to the various conditions of the offer by statement or behavior within the time limit specified in the offer. In essence, it is an agreement to the offer.

37. Late acceptance - is not a valid acceptance. If the notice of acceptance is not delivered to the offeror within the time limit specified in the offer, or the offer does not specify a time limit and is not delivered to the offeror within a reasonable time.

38. Chief mate's receipt - after the goods are loaded on board, the first mate of the carrier ship issues the goods receipt to the shipper, indicating that the goods have been received and loaded on the ship. The shipper can use this receipt to The shipping company or its agent pays the freight in exchange for an official bill of lading.

(It is an important basis for dividing the responsibilities of both parties of the ship and cargo, and the basis for exchanging bills of lading)

39. Regular settlement of foreign exchange - the negotiating bank will calculate the time required to claim compensation from the foreign paying bank. Determine a fixed foreign exchange settlement period in advance, and agree with the export enterprise that after the expiration of the period, regardless of whether the payment has been received from the foreign paying bank, the amount will be converted into RMB and transferred to the export enterprise based on the day's foreign exchange quotation.

40. International factoring (acquisition of accounts receivable business) - When using collection, credit sales and other non-letter of credit methods to settle payments, the factoring provider provides the exporter with a set of Comprehensive modern financial services that integrate credit investigation, receivables management and debt collection, trade financing, and credit management.

41. Distribution - a practice in which an importer purchases and sells designated goods within a specified period and region according to an agreement reached between him and a foreign exporter.

Exclusive distribution - the dealer has exclusive rights to operate the designated goods within the period and region specified in the agreement.

General distribution - dealers do not enjoy exclusive franchise rights. Suppliers can appoint several firms to distribute similar products within the same period and region.

42. Agency - The agent signs a contract or engages in other legal activities with a third party on behalf of the principal in accordance with the authorization of the principal, and the principal is directly responsible for the resulting rights and obligations.

43. Consignment - is a trading method in which consignment is entrusted to sell. The consignor first transports the goods to be sold to a foreign consignment place, and entrusts a local consignment agent to sell them on his behalf in accordance with the conditions stipulated in the consignment agreement. The consignor shall settle the payment to the owner of the goods.

44. Hedging (Haiqin) - while selling or buying actual goods, buy or sell the same amount of futures in the futures market.

45. Countertrade - On the premise of reciprocity, two or more trading parties reach an agreement, stipulating that one party's imported products can be paid in part or all with corresponding export products. .

46. E-commerce - through electronic information technology, network interconnection technology, and current communication technology, all parties involved in a transaction can communicate electronically without relying on the transmission of paper documents and documents. This enables the electronicization of the entire transaction process.

47. International e-commerce - international trade activities conducted by enterprises through various means of e-commerce operations. It reflects the electronicization of the international trade process brought about by modern information technology.

Short answer questions

1. What is the role of trade terms?

Answer a has become the code of conduct for international trade, clarifying the risks, responsibilities and expenses that each other should bear in the handover of goods. This greatly simplifies transaction procedures, shortens negotiation time, and thus saves costs.

b It is helpful for both parties to compare prices and strengthen cost accounting.

C is conducive to the proper settlement of trade disputes.

2. What are the characteristics of liner shipping?

Answer: 1. The route and port of call of the ship are fixed;

2. The ship sails according to the sailing schedule, and the sailing and arrival time of the ship are relatively fixed;

3. The shipping company charges freight according to the pre-announced liner freight rate, and the freight rate is relatively fixed;

4. The liner freight includes loading and unloading costs, which are borne by the ship; < /p>

5. Liner shipping is more flexible. Regardless of the quantity of cargo, as long as there is space, we can accept shipment (small quantities, breakbulk cargo).

3. The nature and function of bill of lading?

Answer: 1. It is a receipt for the goods issued by the carrier or its agent, confirming that it has received the goods from the shipper as recorded in the bill of lading;

2. It represents the goods. Proof of ownership;

3. It is proof of the transportation contract signed by both the carrier and the shipper.

4. What is the difference between a multimodal transport document and a combined transport bill of lading?

Differences in the scope of use: issuer’s risk and liability; multimodal transport document; various transport; multimodal transport operator; full transport bill of lading; combined transport consisting of sea transport and other modes; carrier, captain, shipowner; first transport

5. What are the important contents of my country’s basic insurance exclusions?

Answer: 1. Losses caused by the insured’s intentional behavior or negligence;

2. Losses caused by the consignor’s responsibility;

3. Before the insurance liability begins, the insured goods are already of poor quality or in short quantity;

4. Losses caused by natural loss, essential defects, characteristics, market price drops, and transportation delays of the insured goods Cost;

5. Liabilities and exclusions stipulated in war insurance clauses and strike insurance clauses.

6. What factors affect the transaction price?

Answer: 1. The quality and grade of the goods; 2. Transportation distance;

3. Delivery location and delivery conditions; 4. Changes in seasonal needs;

5. Transaction quantity; 6. Risks of payment terms and exchange rate changes;

7. International market price trends; 8. Delivery time, market sales habits, and consumer preferences .

7. What are the actual total losses?

1. The subject matter insured is completely lost; 2. The subject matter insured is lost (control - pirates take it away); 3. The subject matter insured undergoes qualitative changes and loses its original use value; 4. The ship is missing for a certain amount of time. period.

8. What are the pros and cons of collection and settlement methods?

Answer: 1. Profit - it helps to mobilize the enthusiasm of buyers to order goods, which helps the seller expand exports.

2. Disadvantages - Since collection is a commercial credit, there is a risk of not being able to collect the payment. In particular, the risk of document of acceptance in the collection method is greater, so the seller should insist on using this method. Cautious attitude.

3. Notes:

A. It is necessary to truly understand the buyer's credit status and business style, and the transaction amount should not exceed its credit level;

B. Understand the trade control and foreign exchange control regulations of the importing country to avoid undue losses caused by import ban or failure to receive foreign exchange when the goods arrive;

C. Understand the business practices of the importing country to avoid local customary practices affecting the safe and rapid collection of foreign exchange;

D. The transaction should be completed under CIF conditions, and in addition to freight insurance, seller's interest insurance should also be insured;

E. It is necessary to establish a sound management system for collection transactions, carry out regular inspections, timely collection and clearance, and take immediate measures when problems are discovered to avoid or reduce possible losses.

9. What are the procedures for using letters of credit?

Answer: 1. The buyer and seller agreed in the contract to pay by letter of credit;

2. The buyer applied to the local bank for issuance of a letter of credit, and filled in the application form and paid the letter of credit according to the contract content. Issue a deposit or provide other guarantees.

3. The issuing bank issues the letter of credit according to the contents of the application and delivers it to the beneficiary through the notifying bank;

4. After the seller receives the letter of credit, if the review is correct, it will The letter of credit requires delivery, and a bill of exchange is issued and various documents are prepared to negotiate the payment with the relevant bank;

5. The negotiating bank sends the bill of exchange and documents to the issuing bank or the payment designated by the letter of credit. Bank claims;

6. After receiving the documents, the issuing bank will notify the buyer to pay the redemption order.

10. What is the difference between deferred payment and installment payment?

Differences between payment for goods, transfer of ownership, interest issues, installment payment, or basic payment at the time of delivery. As long as the last payment is paid, the ownership is transferred. The buyer does not use the seller's funds, and there is no interest issue. Delayed payment ( The price of the goods is higher) Most of the payment is paid in installments over a long period of time after delivery. The ownership of the goods is generally transferred to the buyer upon delivery and uses the seller's funds, so there is a problem that the buyer needs to pay interest.

11. What are the benefits of using arbitration to resolve trade disputes?

Answer: 1. Arbitration has a certain degree of flexibility and is based on the voluntariness of both parties. The parties agree on the arbitration institution and select the arbitrator themselves;

2. The procedure is relatively simple. Arbitrators are generally experts or celebrities who are familiar with international trade business, so arbitration can resolve issues quickly;

3. Arbitration costs are lower than litigation costs;

4. The arbitration atmosphere is relaxed, It will not affect the continued development of trade relations between the parties to the dispute;

5. Arbitration is a final award, and the losing party may not appeal and must implement the award.

(Litigation - it is mandatory, has complicated procedures, is harmful to the harmony and is not conducive to the development of future trade relations between the two parties, and is relatively expensive)

12. What is the role of the commodity inspection certificate?

Answer: 1. As a basis to prove whether the quality, weight (quantity), packaging, and sanitary conditions of the goods delivered by the seller are in compliance with the contract;

2. As the buyer’s responsibility for quality, weight , packaging and other conditions to raise objections, reject goods, demand claims, and resolve disputes;

3. As one of the documents used by the seller to negotiate the payment with the bank;

4. Certificate of customs clearance.

13. What are the necessary conditions for an offer?

Answer: 1. The offer should be made to one or more specific persons;

2. The content of the offer must be very clear (indicate the name of the goods, expressly or implicitly stipulate the quantity of the goods or the method of stipulating the quantity, expressly or implicitly stipulate the price of the goods or the method of determining the price);

3. It must be shown that the offeror’s offer will be accepted by the recipient. It means to be bound.

14. What are the terminations of the validity of the offer?

Answer: 1. The offer was not accepted within the validity period specified in the offer, or the validity period was not specified but was not accepted within a reasonable time;

2. The offer was made The person revokes the offer in accordance with the law;

3. After being rejected or counter-offered by the closing party;

4. After the offer is made, a force majeure event occurs;

5. The offeror or the offeree becomes incapacitated before the offer is accepted.

15. What are the characteristics of international factoring business?

Answer: 1. It must be accounts receivable from the sale and production of goods between commercial institutions. The accounts receivable are not for personal or family consumption or similar use;

3. The functions that the factor must perform: provide financing to suppliers in the form of loans or advance payments Funding, managing accounts related to accounts receivable, collecting accounts receivable, and providing bad debt guarantees for debtors' refusal to pay;

4. Notice of transfer of accounts receivable must be sent to the debtor.

16. What are the conditions for establishing liability for damages in civil law?

Answer: 1. There must be a fact of damage (generally it must be proved by the party requesting damages);

2. There must be a reason to blame the debtor (this is the case in mainland China). The basic principles and prerequisites for the law to assume liability for breach of contract);

3. There must be a causal relationship between the cause of the damage and the damage (the damage is caused by reasons for which the debtor is responsible).

17. What are the characteristics, pros and cons of consignment?

Answer: 1. Characteristics: The relationship between the consignor and the agent is entrusted with the sale;

It is a spot transaction based on physical objects;

The agent does not All risks and expenses before the goods are sold shall be borne by the consignor.

2. Advantages: For consignors, it is helpful to open up the market and expand sales, and can also grasp favorable

promotion opportunities based on market supply and demand;

It is helpful to mobilize the enthusiasm of customers who have sales ability and good business style but lack of funds;

It greatly saves transaction time, reduces risks and expenses, and provides convenience for buyers.

3. Disadvantages: high trade risks;

Long capital turnover period and insufficient security for foreign exchange collection.

18. What are the characteristics and advantages of exhibitions and sales?

Answer: Characteristics - organically combine the exhibition and promotion of export commodities, sell while exhibiting, and focus on sales.

Some advantages: 1. It is conducive to promoting export products, expanding influence, attracting potential buyers, and promoting transactions;

2. It is conducive to establishing and developing customer relationships and expanding sales areas and scope.

3. It is conducive to conducting market research, listening to consumers’ opinions, improving product quality, and enhancing export competitiveness.

19. What are the characteristics of auction?

Answer: 1. It is a spot transaction with open bidding;

2. It is organized within a certain institution;

3. It has own unique laws and regulations.

20. What are the characteristics of futures trading?

Answer: 1. Use standard futures contracts as the subject matter of transactions;

2. Special clearing system;

3. Strict margin system.

21. What are the characteristics of compensation trade?

Answer: 1. It is carried out on the basis of credit, and the equipment introduction party must bear the interest;

2. The equipment supplier must promise to repurchase the other party's products or services. ;

3. It is a trading method that utilizes foreign capital through commodity trading.

22. What are the pros and cons of countertrade?

Answer: Advantages - It helps developing countries break down trade barriers, expand exports, and exchange for much-needed technology, equipment and materials without increasing foreign debt. Developed countries can also obtain raw materials at more favorable prices through counter trade.

Disadvantages: 1. It is conducted under the principle of reciprocity, making it very difficult to select the transaction partner, conclude the transaction, and perform the contract.

2. Under the counter-trade method, the role of the market mechanism is greatly weakened, and prices often deviate greatly from normal prices. It is difficult for a country to obtain the maximum amount of social labor. save.

23. In our country, what are the particularities of international e-commerce compared with general e-commerce?

Answer: 1. International e-commerce is mainly e-commerce activities for international economic and trade;

2. International e-commerce generally involves government administrative departments, trading partners, and related businesses. departments; the transaction behavior and process itself are not directly targeted at consumers in the market; 3. The specific operations of international e-commerce involve far more departments and scope than general e-commerce, and its related coordination work and laws Conventions and norms are all international; 4. The development of international business in my country will have social linkage and demonstration effects.

1. Terms of trade index: export price index/import price index. When the index is less than 1, it means that the terms of trade have improved; when the index is less than 1, it means that the terms of trade have deteriorated.

2． The volume of foreign trade is numerically equal to the sum of a country’s total imports and total exports.

3. If the world export trade volume in a certain year is 1.5 trillion yuan and the world import trade volume is 1.6 trillion yuan, then the total world trade volume in that year is 3.1 trillion yuan.

4． Smith proposed the absolute cost theory in his representative work "The Wealth of Nations". On this basis, Ricardo proposed the comparative cost theory, the core of which is to choose the greater of the two best and the lesser of the two worst.

5． The operating organizations of the World Market include the International Trade Center, the World Transportation Network, the World Market Sales Channel and the Information Network.

6． The intra-industry trade theory mainly analyzes the phenomenon of intra-industry trade from the perspective of market structure, using scale economies, product differences and demand differences; the intra-company trade theory mainly uses transaction costs and internalization theory to analyze the intra-company trade phenomenon of multinational companies.

7. The theory of national competitive advantage analyzes the formation and changes of a country's competitive advantage theory from six aspects: four basic factors, including factor conditions, domestic demand, related and supporting industries and corporate strategic structures, and competition, as well as two auxiliary factors, opportunities and government.

8． International commodity agreements usually use buffer stocks, quotas and multilateral long-term contracts to regulate supply and demand and affect prices.

9. In a closed market, prices change by a small amount, whereas in a "free market" prices change by a large amount.

1. The four forms of foreign direct investment are setting up a wholly-owned enterprise, acquiring and owning a certain proportion of equity in a foreign enterprise, setting up a joint venture with the host country and reinvesting the investor's investment profits.

2． Foreign indirect investment mainly includes securities investment and loan capital output. The latter generally includes government assistance loans, loans from international financial institutions, loans from international financial markets and export credits.

3. The country where the parent company of a multinational company is located is called the home country of the multinational company, and the country where the subsidiary company operates is called the host country.

4. From the perspective of the relationship between multinational corporations and foreign direct investment, foreign direct investment is the material basis for the formation of multinational corporations, and multinational corporations are the carriers of foreign direct investment.

5. Trade in services was included as a negotiating topic in the Uruguay Round of GATT negotiations, and the General Agreement on Trade in Services, referred to as GATS, was signed in 1994.

1. Foreign trade policy consists of general foreign trade policy, country (region) policy, and import and export goods and service policies.

2． The basic types of foreign trade policies are: free trade policy, protective trade policy and coordinated management trade policy.

3. Mercantilists believe that gold and silver are the only forms of wealth, and wealth comes from the circulation field. Advocate the adoption of protectionist trade policies to develop foreign trade.

4. During the Industrial Revolution in the 19th century, Britain and France advocated free trade policies, while at the same time, the United States and Germany advocated protectionist trade policies. Their representatives were Hamilton and Lister.

5. Special additional duties include anti-dumping duties and countervailing duties.

6． The main methods of collecting tariffs include ad valorem tax, specific tax, mixed tax and selective tax.

7. The import quota system is mainly divided into absolute quota and tariff quota.

8． The "automatic" export quota system is a system that "automatically" stipulates export quotas for certain commodities within a certain period of time under the requirements or pressure of the importing country.

9. Import licenses are divided into public (general) licenses and special import licenses.

10. Free ports and free trade zones focus on developing re-export trade to obtain commercial benefits and are oriented to commerce; export processing zones are oriented to industry.

11. According to the provisions of the General Agreement on Tariffs and Trade, anti-dumping duties imposed shall not exceed the dumping amount.

12． The GSP is characterized by universality, non-discrimination and non-reciprocity.

1. The General Agreement on Tariffs and Trade (GATT in English) is an international multilateral agreement signed in Geneva in 1947.

2． The General Agreement on Tariffs and Trade has completed eight rounds of negotiations so far. The main topic of the first five rounds of negotiations was tariff concessions. The Kennedy Round involved non-tariff barriers for the first time. Agreements on anti-dumping duties and countervailing duties were reached in the Tokyo Round, and the Generalized System of Preferences was granted to developing countries.

3. For the first time, the WTO has incorporated trade in services, intellectual property rights and investment measures into the multilateral trading system, which is broader than the GATT, which only covers trade in goods.

4. The World Trade Organization Agreement (English abbreviation WTO) was adopted at the Ministerial Conference held in Marrakech on April 15, 1994, and was accepted in the form of a "package" and a "single entity".

5. The WTO reversed GATT's protection policies in specific "sensitive" areas, such as agricultural products, textiles and clothing.

6． The General Agreement on Tariffs and Trade has played a certain role in promoting the development of international trade after the war, and developed capitalist countries have benefited more in previous negotiations.

7. The highest authority of the WTO is the Council of Ministers. The General Council may convene meetings at any time to perform its duties of resolving trade disputes and reviewing the trade policies of each member.