On Monday, however, Japan submitted its counterargument in writing to the WTO, expressing its view that the suspension of imports by China is "totally unacceptable", and that "it strongly urges China to immediately repeal its measures".

Discriminatory policies and regulations that hinder market entities' participation in economic activities will be overhauled and repealed.

On Monday, Japan submitted its counterargument in writing to the WTO, expressing that the suspension of imports by China is "totally unacceptable", and that "it strongly urges China to immediately repeal its measures".

The preceding measures implemented since 2005, which require that all car dealers secure authorization from brand owners, will be repealed from July 1, 2017, the Ministry of Commerce (MOC) said in a statement.

Immediately after the repeal of Regulation Q, "Savings and Loans", a kind of US bank designed to facilitate house purchases, started investing in risky shopping centers and other commercial property.

Attendees at the meeting agreed that fines that are in breach of statutory authority, fall short of economic and social development or have other regulatory or legal alternatives, should be repealed if feasible.