China Sees WTO as Positive for Economy

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Last updated at: (Beijing Time) Wednesday, December 11, 2002

China Sees WTO as Positive for Economy

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One year working within the World Trade Organization (WTO) framework has brought positive results tothe Chinese economy, said Zhang Zhigang, vice-minister in charge of the State Economic and Trade Commission, Tuesday.

Zhang said the Chinese government had largely transformed its functions and improved its administrative capability since the China's WTO entry.

The commission had cleared 113 departmental regulations issued before 2001 and established new ones, Zhang said. It had also begun to formally publicize its policies and regulations both at home and abroad this year to increase political transparency.

Since entering the WTO, China had accelerated industrial restructuring, he said. It had invested a total of 207.6 billion yuan (25 billion US dollars) in technical innovation projects. It had finished regrouping the civil aviation and telecommunication industries into corporations and was regrouping the power, railways, and non-ferrous metals and gold industries, Zhang said.

China took more safeguarding measures in anti-dumping and anti-subsidy campaigns, registering a total of 10 anti-dumping cases worth 59.2 billion yuan (7.1 billion dollars). The relevant businesses had also learned to calmly face trade disputes within the framework of the WTO and protect their legal rights, he said.

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