CHINA WILL HONOR APRIL’S WTO OFFER

   Chinese trade negotiators said they plan to honor the concessions made
in April to elicit U.S. approval of China’s entrance into World Trade
Organization, and to use those concessions as the basis for new
negotiations scheduled next week.
   China’s offer, which was rejected by president Clinton in April and
thought to be void after NATO’s bombing of the Chinese embassy in
Yugoslavia, promised the complete liberalization of China’s international
and domestic transportation and distribution markets within four years.
   China also pledged to free up its financial and telecommunications
industries and to lower trade tariffs.
   Chinese and U.S. officials will meet in Washington in an effort to sign
a WTO deal before the trade-governing body meets in Seattle in November.