Legislation will be revised to make it easier for companies and individuals to conduct foreign trade. 'The amendment to [the Foreign Trade Law] is to convert China's World Trade Organisation commitments and WTO rules and regulations into China's domestic law,' Vice-Minister of Commerce Yu Guangzhou was quoted by Xinhua as saying. Under the draft legislation, all individuals, organisations and other legal entities would be allowed to engage in foreign trade. 'Chinese individuals should be granted the same rights, because foreign individuals will be allowed to undertake foreign trade in China [from next year],' he told Xinhua. Before China's WTO entry, trading rights were only granted to state-owned firms. Later, non-state companies that have been established for at least a year and have a minimum of three million yuan in registered capital were also given access. In September, the establishment requirement was abolished and the registered capital threshold lowered to 500,000 yuan. The amendment was submitted for approval to the sixth session of the Standing Committee of the 10th National People's Congress, which is sitting this week in Beijing. Articles to protect mainland industries in accordance with WTO provisions are also included in the draft, so China can make good use of anti-subsidy, anti-dumping and other relief measures to protect domestic industries. The draft adds a chapter on the protection of intellectual property rights, as well as one relating to foreign-trade investigations. These will cover the influence of imports and exports on the competitiveness of domestic industries, trade barriers, the trading climate, anti-dumping, anti-subsidy and other protective measures. Long Guoqiang, a researcher with a State Council think-tank, said: 'I hope the early issuing of the revised law will lay a legal basis for China to fight more cases of trade friction with WTO trade partners. 'Foreign-trade investigations are adopted by many WTO members. They will help China guide domestic companies' handling of trade problems.'