China's Market Economic Maturity Hits 69 Percent in 2001

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Last updated at: (Beijing Time) Friday, April 18, 2003

China's Market Economic Maturity Hits 69 Percent in 2001

A Latest research result indicates China is a country in which market economy is in the course of development in the light of internationally acknowledged standard. 2001 saw the maturity of Chinese market economy reach some 69 percent.

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An up-to-date research result indicates that China is a country in which market economy is in the course of development in the light of internationally acknowledged standard, not a country of "non-market economy" as taken by some countries. 2001 saw the maturity of Chinese market economy reach some 69 percent.

Entrusted by Bureau of Fair Trade for Import & Export, Minister of Commerce (the former Ministry of Foreign Trade and Economy Corporation), the Economic & Resources Management Research Institute under Beijing Normal University has lately finished a report on the maturity of the Chinese market economy in 2003. Proceeding from the actual situation of the Chinese economy and also in consideration of international comparability of the quota and with the standardization for governmental behavior, the liberalization of economic mainstay, the market orientated production elements, a fair trade environment and the rationalization of financial index as a measurement system, the research is of the opinion that the maturity of China's market economy reached 69 percent in 2001. And the market economy witnessed a further development in 2002 along with the internal requirement for the reform of economic system and the pushing of the external motive force of the entry into the WTO.

Li Xiaoxi, Head of the Economic & Resources Management Research Institute under Beijing Normal University, said that 60 percent is the critical criterion for the judgment of a market economy. The maturity of market economy in China has reached 69 percent, and so it is absolutely a country of market economy.

According to Wang Shichun, Head of Bureau of Fair Trade for Import & Export, Minister of Commerce, in the investigation of anti-dumping cases and confirming its extent, whether it is a country of market economy or not is a conception of great importance for it. Now, being taken as a "country of non-market economy" this has become a hard nut to crack when China is going to deal with the anti-dumping cases launched by other countries. The research result will help effect a positive influence on expanding China's foreign trade and seeking for just and fair trade treatment.

Now, China has become a country suffering the greatest losses in the world in the anti-dumping cases. Of the 1979 cases launched in the world from 1995 to June 2002, we see 278 cases directed against China or Chinese enterprises, accounting for 14 percent. The average rate of winning is only at 35.5 percent out of the total. Therefore, It is of primary importance to make an appraisal on the existing Chinese economic system in line with the international standard.

By PD Online Staff Liu Wei

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