China's entry into the World Trade Organization (WTO) will give a powerful push to the country's economic restructuring and its plan for building a socialist market economy, the People's Daily says in a front-page article on January 26.

China's bid to enter the WTO is an important step taken to further reform and opening up to the outside world in the face of economic globalization, says the signed article, entitled "March

to the Outside for the Revitalization of China".

By joining the WTO, China will get more development opportunities on the international economic stage, have a more influential role in making trade rules and handling trade disputes,and receive relatively more fair treatment.

These positive outcomes, the article says, show that China's entry into the WTO proves the wisdom of Deng Xiaoping's words that "development is the final choice."

China has basically established a framework for a socialist market economy after 21 years of reform. But the country still has a long way to go to complete the growth process.

"China's entry into the WTO will be a big push in the further restructuring of China's economy and in the building of a socialist market economy," says the article.

China's WTO membership will ultimately lead to the breakup of regional protectionism and the monopoly in certain industries, and result in the formation of a market system that is unified, open

and competitive, says the article.

"The WTO membership will accelerate the process of building a market economy, and help the country make full use of the market system," it says.

In addition, WTO membership will give China better access to the international market, and Chinese companies will have more chances to strike investment and trade deals overseas.

Meanwhile, as China cuts its tariffs, grants more market access and non-discriminative treatment to overseas businesses, as it has promised, China's companies will have to improve themselves to survive the imminent global competition, the article says.

In addition, it says, during this transformation process, the government will have to adapt its management style to better accommodate the expanding market economy.

As a result, the government will have to change its current management approach, and make decisions in a more scientific, democratic and systematic way. Relevant laws will also be refined.

But, the article says, the WTO entry will inevitably bring some negatives; some industries will feel pressure, particularly those low-level, capital-intensive and technology-intensive sectors.

"To maintain the political and economic independence and to safeguard the economic safety of our country, we must strengthen our comprehensive national power and improve the competitiveness of China's industries," it says.