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More challenges for China after 10-year WTO membership

(Xinhua)

07:17, May 31, 2012

BEIJING, May 30 (Xinhua) -- China will face more international challenges as frictions in economic, trade, and investment matters with other nations are predicated to intensify in the future, a report said Wednesday.

These frictions will too add pressure to the country's economic and trade policies, according to the report on China after its 10-year World Trade Organization (WTO) membership, released by the China Development Research Foundation (CDRF).

Meanwhile, the international community will also exert more pressure on China over issues including climate change and the re-balancing of the world economy, said the report.

Wang Luolin, CDRF vice director-general, said that China's entry to the WTO had helped it further open up over the years, which has brought actual benefits to the Chinese and people all over the world.

Long Guoqiang, an economic researcher with the Development Research Center of the State Council, said China is currently at the middle-later stage of industrialization, and the country needs to make necessary adjustments to its opening-up strategy by setting new strategic goals and focuses.

Long also said that in the future, China's opening-up will expand to the finance sector and involve global governance and rule-making.

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