China Keeps Honestly Its Promise to WTO

Home>>Business

Last updated at: (Beijing Time) Monday, November 11, 2002

China Keeps Honestly Its Promise to WTO

DISCUSSION

CHINESE

SEND TO FRIEND

November 10, 2001, WTO (the World Trade Organization) held its 4th ministerial meeting at Doha, Qata, at which China's accession into the WTO was endorsed. November 11 saw a delegation on behalf of China presented WTO Director-General certificate of approval by Chinese President Jiang Zemin thereby completing the procedures of China's WTO entry. December 11, China officially acquired its full membership of this world trade setup.

China has been as true to its honest commitment and promise to the WTO during the year's time since the Doha meeting endorsed China's WTO accession. Time has seen the country has considerably had its Customs tariffs cut and many of its non-tariff measures dropped. China has also lost no time embarking on opening-up efforts in service areas, enforcing protection of intellectual property rights and attending to various obligations as demanded for reports seeking advisory from the WTO. Efforts as made by China in observing various obligations and commitments to the WTO have won wide appraisal from the international social community for it it has been true to its words and promises made on its WTO accession made.

Supachai Panitchpakdi, new Director-General of the WTO said at the Geneva-based WTO Headquarters meeting lately held said that China has made great effort in honoring its obligations since its WTO entry. "So far as I know, what China has been up to are all true to what it has promised to the WTO", he said.

Supachai pointed out that China has in recent year overhauled many its home laws in accordance with WTO rules and regulations. He also added that some provinces and regions in China have also been on a change of their trade mechanism and some have even opened up their markets ahead of schedule set.

September 17 this year saw a positive appraisal by WTO Council for TRIPS made of China on the back of a review of the country's commitments in carrying out the "Agreement on Trade-related Intellectual Property". Against this, as it turned out, China had previously presented 14 reports in regard to China's property rights laws and gave answers to 101 questions from The US, EU, Japan, Australia and other WTO members. The WTO had given positive appraisal of the results China had achieved in protecting property rights especially its commitments it has made to the WTO on its WTO entry.

Statistics tell that China has made a conscientious effort in making an inventory of its laws and adapting its laws, rules and regulations to those of the WTO. These refer to 2300 legal files by 30 departments of the State Council, including 830 laws annulled and amendments made to 325 laws, rules and regulations. A similar effort had also been made by various localities to this end according to unified arrangement by the central authorities.

Shi Guangsheng, minister of the Ministry of Foreign Trade and Economic Cooperation had put things rightly at the WTO signing ceremony when he applied on behalf of China his signature to the Protocol on China's Accession to the WTO. He said that China has made a prolonged effort for joining the WTO as it has long set about efforts in launching reforms and opening up to the outside world. WTO entry would benefit both China and the world. China needs the world as the latter needs China. After China's WTO entry, on the basis of equity of rights with obligations, China will strictly observe all WTO rules and fulfil its due obligations demanded.

By now, as things are with China's development there has been seen an increased number of and increased confidence and interest by foreign investors in China's environment for investment and developing trade and this has resulted in a considerable growth in China's export and inflow of foreign investment into this country. In the first eight months of this year, China claimed a US$20.7 billion export trade volume (at a daily sum of US$0.83 billion) showing a 17.5 percent growth to a three percentage points increase over imports or a yearly 10.7 percentage points higher over last year. A US$17.9 billion favorable trade sum was recorded to show a growth of 59.2 percent. An actual sum of US$34.4 billion (a daily average of US$0.14 billion) chalking a 25.5 percent growth of foreign investment was absorbed.

By People's Daily Online

Questions?Comments? Click here

Supachai: China Honors Well Its Promises to WTO

China to Open up Various Economic Sectors: Premier Zhu

Anti-War Rally in Italy Draws 450,000 ( 5 Messages)

Iraq Must Cooperate with UN Unconditionally: Bush ( 3 Messages)

New Chapter in New Century ( 2 Messages)

China Owes 13-year Success to Pathbreaking CPC Central Leadership ( 2 Messages)

A US-Iraqi War Will Affect China, China Has Had All-round Counter-measures ( 52 Messages)