China Strictly Honors WTO Entry Commitments: Minister

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Last updated at: (Beijing Time) Monday, September 09, 2002

China Strictly Honors WTO Entry Commitments: Minister

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China will strictly honor its commitments to open the market and create favorable conditions for oreign goods to enter China, said Chinese Minister of Foreign Trade and Economic Cooperation Shi Guangsheng Sunday.

Shi made these remarks at the 2002 International Investment Fair, on the first day of the 6th China International Fair for Investment and Trade, in Xiamen City, Fujian Province, east China.

According to the minister, since January 1, 2002, China has significantly lowered import duties on more than 5,000 commodities; the overall tariff level has dropped from the previous 15.3 percent to the current 12 percent; the duties on some technology products have even dropped to zero; non-tariff measures have been reduced; the quotas, licensing and designated bidding management of some products have been abolished.

China has rectified a total of 2,300 regulatory documents, 830 of which have been revoked and 325 have been revised; opened up more sectors to foreign investors; strengthened the protection of intellectual property rights; handled multilateral trade disputes according to WTO rules; trained corporate personnel intensively.

At the end of last year, trade ministers from WTO member nations agreed on the framework of the new round of multilateral trade and investment negotiations in Doha, according to the minister. As a WTO member, he said, China is willing to work closely with other members in proactively and steadily promoting the liberalization and ease of trade and investment, and facilitating the establishment of a more open, fair and rational system for multilateral trade and investment.

At present, China will focus on improving the soft environment for foreign investment and further strengthening its comprehensive competitiveness, so as to bring about a better environment for foreign investors investing in China, he said.

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