concession, n.

1. A government grant for specific privileges.

2. The voluntary yielding to a demand for the sake of a settlement.

3. A rebate or abatement.

4. Int’l law. A contract in which a country transfers some rights to a foreign enterprise, which then engages in an activity (such as mining) contingent on state approval and subject to the terms of the contract. [Cases: Treaties

8. C.J.S. Treaties ¡ì 6.] ¡ª concede, vb. ¡ª concessive, adj.

What is the preferred translation of the term CONCESSION by Chinese lawyers?
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