Third chapter
Market access and market order
Part One
Market access
Concept of Market access
Market access for goods in the world means the
conditions, tariff and non-tariff measures, agreed
by members for the entry of specific goods into
their markets. Tariff commitments for goods are
set out in each member's schedules of goods.
The schedules represent commitments not to
apply tariffs above the listed rates — these rates
are “bound”.
General market access of industrial
and commercial registration
From the perspective of law and
economics, the relationship of commercial
registration and market entry, especially
the equilibrium of the efficiency and safety
of market access can be well studied. Of
course, the difference between general
and special accesses and the disparity of
the values of civil and commercial private
law and economic law should be
determined at first.
Approval of a special licensing
system for market access
Complex regulatory processes induce excessive
exploitation of regional administrative power.
Before the revision of Chinese Pharmaceutical
Law in 2001, the province drug administration
was assigned with authority to streamline the
process of registering a generic drug.
Consequently, this regional authority power was
exploited resulting in excessive duplication of
the same drugs.
Part Two
Market order
Market order regulation and adjustment
of the concept of object methods
Many governments have adopted transfer pricing
rules that apply in determining or adjusting
income taxes of domestic and multinational
taxpayers. The OECD has adopted guidelines
followed, in whole or in part, by many of its
member countries in adopting rules. United
States and Canadian rules are similar in many
respects to OECD guidelines, with certain points
of material difference. A few countries follow
rules that are materially different overall.
Market order regulation law
A market order guarantees execution, and it
often has low commissions due to the minimal
work brokers need to do. Be wary of using
market orders on stocks with a low average daily
volume: in such market conditions the ask price
can be a lot higher than the current market price
(resulting in a large spread). In other words, you
may end up paying a whole lot more than you
originally anticipated! It is much safer to use a
market order on high-volume stocks.
The basic principles of Market
order
An order in a market such as a stock
market, bond market, commodity market
or financial derivative market is an
instruction from customers to brokers to
buy or sell on the exchange. These
instructions can be simple or complicated.
There are some standard instructions for
such orders.
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