China to Honor WTO Commitments: Premier Zhu

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Last updated at: (Beijing Time) Tuesday, March 26, 2002

China to Honor WTO Commitments: Premier Zhu

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China to strictly honor promises

Chinese Premier Zhu Rongji told a group of international business leaders and economists that China will rigorously honor its promises for entry to the World Trade Organization (WTO) despite volatile international economic situations in recent months.

Zhu was speaking to a group of foreign participants to the 2002 Annual Meeting of the China Development Forum.

"After China becomes a full member of the World Trade Organization, changes took place in the international economic situations in the past several months," Zhu said.

"However, China will strictly honor its commitments for entry to the WTO, including the continued opening-up of China's financial and insurance sector," Zhu said.

Advantages outweigh disadvantages

There were advantages and disadvantages for China with its entry to the WTO, but in the long run, advantages would outweigh disadvantages, he said.

Sir John Bond, chairman of the HSBC group, Donald J. Johnston, secretary-general of the Organization for Economic Cooperation and Development and others aired their opinions on the development of the international economy and China's development.

Zhu said that China paid great importance to their opinions and ideas, and looked forward to more exchanges through the China Development Forum and other channels for greater interaction of China's economic development with the world.

The two-day forum, sponsored by the Development Research Center of the State Council, has as its theme "China: a member of WTO" this year.

More than 200 people attended the meeting, including officials from Chinese government departments, leaders of multinational companies and representatives from related international organizations, and Chinese and foreign scholars.

Fulfilling WTO Commitments a Priority

Senior officials said on Sunday the government will make more efforts to fulfill its World Trade Organization (WTO) commitments.

In the coming five years, China will open its goods market, which will provide trade partners a share of US$1.5 trillion. The further opening up of the service and trade market will also bring new fields for foreign investment.

China will continue its WTO commitments and expand areas of opening up step by step, he stressed. In Detail

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