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People's Daily Online>>China Business

China aims for balanced trade as imports expand (2)

(Shanghai Daily)

13:11, December 12, 2011

China will also continue to welcome foreign investment, encouraging higher-end projects such as the establishment of research and development centers in coastal cities, and factories in central and western areas to make the whole industry structure more complementary, Hu said.

He urged other countries to recognize China's full-market economy status as soon as possible and relax restrictions on high-tech commodity exports to China.

Major trading partners including the European Union and the United States do not recognize China as a market economy, making it easier for WTO panels to rule that Chinese companies dump goods on overseas markets.

China joined the WTO on December 11, 2001 after 15 years of negotiations.

Pascal Lamy, director-general of the WTO, gave a high mark on China's overall performance in the past decade.

He said at the ceremony that China had become a core member of the organization by playing a key role in design and acceleration of a more internationalized global trade.

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