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People's Daily Online>>Foreign Affairs

10 years in WTO, China's opening-up to continue

By Ding Qingfen and Yu Ran  (China Daily)

08:09, December 12, 2011

President Hu Jintao, followed by World Trade Organization (WTO) Director-General Pascal Lamy (left) and the United Nations Conference on Trade and Development Secretary-General Supachai Panitchpakdi, attends a forum marking the 10th anniversary of China's entry into the WTO in Beijing on Dec 11, 2011. (Xinhua Photo)

BEIJING / SHANGHAI - When China joined the World Trade Organization (WTO) 10 years ago it opened up many of its sectors for the first time and embarked on a journey that would lead to it becoming the world's second-largest economy within a decade.

That journey will continue for the benefit of both China and the world, President Hu Jintao said on Sunday.

"China will follow a more active opening-up strategy," Hu said at a forum in Beijing to commemorate China's entry to the world trade body.

China has fully met its commitments to the WTO since it joined the trade body on Dec 11, 2001, Hu said, citing a number of statistics.

Tariffs, in general, had fallen to 9.8 percent from 15.3 percent, far lower than the average for developing nations. It has also opened up 100 service sectors, a figure close to the level for developed nations.

It is now the world's second-largest trader and the largest exporter. The nation's accumulative imports in the past decade reached $7.5 trillion while it attracted foreign direct investment of $759.5 billion.

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