China's revised foreign trade law, which goes into effect on July 1, provides more freedom both for business people to buy and sell and for the government to remedy unfair deals.

　　The biggest changes for business people are that individual Chinese will be allowed to engage in import and export, and that no government approval will be required for trade in goods or technologies.

　　Upon its entry into the World Trade Organization in 2001, China agreed to liberalize foreign trade rights within three years.

　　The country used to bar individual Chinese from engaging in international trade for fear of losing control of a neat order. But individuals have already engaged in such trade, especially in border trade between China and Russia, in the past decade.

　　Shutting individuals out of foreign trade is not only impractical, but also against China's WTO promises.

　　But the revised foreign trade law is silent on whether individuals can enjoy tax rebates the way companies do.

　　It also remains to be seen whether and how individuals can get bank loans for large deals.

　　In future implementation rules, the authorities need to thrash out those details and find effective ways to keep myriad individuals from undercutting each other in the world market and causing foreign countries to file anti-dumping suits against Chinese exports.

　　Despite the lurking problems, the revised law signals further deregulation of trade rights in a competitive global market.

　　After all, individuals can be more savvy and efficient than a company, at least theoretically.

　　To the delight of both Chinese and foreign traders is that the revision actually deprived the government of the right of approval.

　　The new law will only ask a trading person or company to register with the authorities.

　　This registration system, along with the provision that all eligible people can engage in trade, reflects the growing influence of free trade ideas.

　　But any country will lose if it gives everything for free and imposes no protective measures.

　　The new foreign trade law includes heightened measures for China to retaliate against unfair trade practices by its trading partners.

　　For example, China will take measures to eliminate harm caused by foreign holders of copyright imposing compulsory package licensing.

　　China will also be entitled to act against countries or regions which fail to provide sufficient protection for Chinese copyright. This is a warning to those places where many famous Chinese trademarks have been illegally registered.