Vice minister: China has kept promises, reduced tariffs

15:54, June 02, 2010      

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In the past decade, China has strictly observed commitments to advance tariff reduction and improve trade policies, said Yi Xiazhun, China's vice minister of commerce.

The World Trading Organization (WTO) held the third overall review meeting on China's trading policies in Geneva on May 31. Yi led a delegation to the meeting.

Yi said at the meeting that so far, China has achieved all promised tariff-reduction obligations by reducing the general tariff level from 15.3 percent in 2002 to 9.8 percent in 2010, which is the lowest in developing countries.

Yi also said China has encouraged massive imports by implementing package plans to stimulate domestic demand. In addition, the country has created an enormous market for trading partners despite weak demand and the global financial crisis in the last two years.

China also scrupulously abides by promises made in the G20 summit and in the WTO without practicing any multi-lateral trade and investment protectionism policies, which plays a significant and constructive role in promoting global economy rebound.

By People's Daily Online

(Editor:黄蓓蓓)

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