China serious in honoring WTO rules, says premier

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Last updated at: (Beijing Time) Tuesday, December 09, 2003

China serious in honoring WTO rules, says premier

Chinese Premier Wen Jiabao said Monday the Chinese government has been very serious and earnest in fulfilling its World Trade Organization accession commitments.

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Chinese Premier Wen Jiabao said Monday the Chinese government has been very serious and earnest in fulfilling its World Trade Organization accession commitments.

Wen Jiabao made the statement while answering questions after making a speech at a luncheon hosted by the American Bankers Association.

Wen said that China had reduced its overall tariff from 15 percent before its accession to the WTO to 11 percent in 2003, while the average tariff for WTO members now stands at 10.5 percent. "Our efforts to bring down our tariff will continue and it will further drop to 10.5 percent."

At the same time, China has done away non-tariff barriers for 480 items, said the Chinese premier, adding that China had amended over 3,000 pieces of WTO-related legislation within two years.

China is a developing country and its development will never pose a threat to others, said the premier.

Over 100 people including former US Secretary of State Henry Kissinger and President of the American Bankers Association Don Ogilvie attended the luncheon.

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