US commerce official praises China's WTO obligations

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Last updated at: (Beijing Time) Thursday, February 12, 2004

US commerce official praises China's WTO obligations

US Chamber of Commerce official Richard Holwill Wednesday, Feb.11, praised China for its openness and transparency in implementing its obligations to the World Trade Organization.

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US Chamber of Commerce official Richard Holwill Wednesday praised China for its openness and transparency in implementing its obligations to the World Trade Organization.

Richard Holwill of the US Chamber of Commerce made this statement in Beijing, saying he believes trade relations between the United States and China will develop constantly.

Holwill said China has sorted out over 2, 000 laws and regulations and stimulated new laws after soliciting opinions from foreign companies since it joined the WTO two years ago.

He also said he does not think China will dominate the world manufacturing sector because export-oriented manufacturing only accounts for 20 percent of China's economy. He denies that China's economic development will threaten any other country, rather, it will promote global economic development.

Holwill said though there are some factors affecting the trade between the US and China, the trade between the two countries will develop constantly.

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