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People's Daily Online>>Special Coverage >> China Studies >> Cooperation >> China and World

China, New Engine for its Developing Neighbors after its WTO Accession

(People's Daily Online)

14:31, August 02, 2011

At Boao Forum for Asia(BFA) held on April 15, 2011, ten years after China’s accession to the WTO, people from the entire world, in a special debate on China and its WTO Accession, expressed their views that the past ten years was a glorious period when China and the World shared win-win prosperity. After being admitted to the WTO, China has made and has been making positive efforts in keeping its commitment by further opening its domestic market and taking part in global and regional economic integration in depth, thus contributed to the development of world economy, and in particular to its developing neighbors. The rapid growth of China’s economy has been giving an increasingly marked influence to its developing neighbors positively by providing them with a fresh engine and confidence for an accelerated development.

After its WTO accession, China and East Asia saw an increasingly deepened integration. There are altogether 26 economies (including countries and regions) that are adjacent to China. In 2000, China is the largest trading partner for 3 economies, the second largest for 6 economies, and the third largest for 7 economies, totaling up altogether 16 economies. In sharp contrast, in 2007 it is the largest trading partner for 9 economies, the second largest for 8 economies, and the third largest for 5 economies, totaling up altogether 22 economies (see table 1). As figures in table 1 show, China saw an increase of the percentage of economies that are the largest, the second largest and the third largest trading partner with China from 42.3% in 1995 to 88% in 2007, which grew much faster after China’s WTO accession in 2001.

Note: China has become the largest trading partner for most of its neighbors by the year 2010. Data source: disk of Direction of Trade (2008) from IMF.
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jSUEMXdxKuNHSf at 2011-10-04218.241.91.*
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