Opening Wider to Outside World with WTO Entry as Opportunity: Commentary

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Last updated at: (Beijing Time) Tuesday, December 11, 2001

Opening Wider to Outside World with WTO Entry as Opportunity: Commentary

On December 11, China formally becomes a member of the World Trade Organization (WTO). This is a historical necessity of China's reform, opening up and modernization drive, it is also an important opportunity for further advancement of all-directional, multi-level and wide-ranging opening to the outside world, which will be of far-reaching influence on China's economic development.

After joining the WTO, China will participate in economic globalization in a wider area and greater depth. Given this, we should take WTO entry as an opportunity to further open to the outside world, achieve development and get initiatives into our own hands, this is also an important content of China's economic work next year., currently, various regions, departments and trades should unify thinking in accordance with the plan of the central authorities and, in the light of related WTO rules and China's promises, make conscientious analysis and study of the various influences brought on China by WTO accession, promptly put forward purposeful measures, they should dare to open the market and be good at protecting themselves.

Cadres of all levels, especially leading cadres, should, first of all, study and get familiar with basic WTO principles and related rules and in light of China's reality, accelerate the adjustment of related policies for the transitional period and the work of sorting out, revising or abolishing foreign economic laws and regulations and establishing a perfect foreign-related system of laws and regulations, that conforms both to WTO regulations and to China's national conditions. We should change the government economic management method as quickly as possible, enhance the unity and transparency of policies and improve our ability to work in accordance with common international rules. We should step up the establishment of an industrial security guarantee system, quicken the revision and perfection of the market access standard in the aspects of quality, hygiene, epidemic prevention, environmental protection and security, and make full use of anti-dumping, anti-subsidy and other guaranteeing measures. Enterprises of all types should enhance their sense of urgency and awareness of competition and, taking advantage of the transitional period, speed up technological innovation and product development, improve quality and service and expand the market occupation rate. We should intensify popularization and publicity of related WTO knowledge and regulations, and pay close attention to training and bringing up a contingent of talents who are expert in international economy and laws.

We should take WTO entry as a new starting point to strive to raise our level of opening to the outside world. We should make full use of the favorable conditions offered by entry into the WTO, implement diversified strategies and try by every possible means to enlarge exports. While guaranteeing maintenance of our traditional export markets, we should actively explore new export markets and vigorously advance the diversity of markets. We should continue to deepen reform of the foreign trade system, make major efforts to foster new growth points of export and promote the diversification of the mainstays of foreign trade management. We should continue to stimulate "going out", encourage qualified domestic enterprises to go abroad to engage in the businesses of investment and development and undertake contracted projects as well as labor cooperation, so as to boost the exports of domestic equipment, materials and labor through investing in foreign countries, thereby diversifying the methods of export. We should strengthen energy resource cooperation with foreign countries and gradually realize the diversification of channels for the import of important strategic materials. We should strengthen and perfect the import management system in accordance with the WTO rules. In addition, we should seize the opportunity of joining the WTO to raise the level of the use of foreign capital. We should closely integrate the absorption of foreign capital with the upgrading of domestic industries, the coordinate development of regional economies, the reorganization and transformation of State-owned enterprises and the expansion of exports. We should further improve the investment environment, particularly the soft environment, maintain the stability and continuity of the policies on attracting foreign investment, strengthen the protection of intellectual property rights and enhance China's attraction to foreign investment. We should actively spur foreign capital to flow into high and new technological industries, and encourage transnational corporations to come to China to set up R&D centers and regional headquarters. We should gradually expand market access for finance, insurance, commerce and trade, tourism, intermediary and other service trades, at the same time, we should study new situations emerged after opening these sectors and solve new problems, so that these sectors can develop in a healthy and orderly way. As a new WTO member, China will, together with other WTO members, play an active and constructive role in promoting the world economic and trading development and establishing and perfecting a multilateral trading system.

The period of time ahead is a crucial period for China to realize its third-step strategic goal, as well as a crucial period for it to do the various fields of work well in joining the WTO. In the face of the opportunities and challenges brought by WTO entry, we should have confidence and determination to actively use these opportunities and meet these challenges, and promote what is beneficial and abolish what is harmful. We are certain that we can correctly grasp the chances and meet challenges with ease, with a brand-new posture, we will greet the arrival of a new stage of opening, boost the sustained, healthy and rapid development of the national economy and do our bit for the development of the world economy and trade.

By People's Daily Online

China Becomes Formal WTO Member

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