Premier Zhu Rongji said that no time should be lost in adjusting to the new situation created by the accelerated process of China's entry into the World Trade Organization (WTO) and that various preparations should be made for the accession.

Zhu made the call in his government work report delivered at the Third Session of the Ninth National People's Congress (NPC), which opened in Beijing this morning.

Following a "win-win" agreement in November 1999 between China and the United States on the former's entry into the WTO, China has begun negotiating with many other WTO members and sealed agreements. Currently, the country is still holding negotiations with a few WTO member states.

To accelerate the process of China's entry into the WTO is an important policy decision for speeding up the development of a socialist market economy and opening itself wider still to the outside world. The accession will bring along both opportunities and challenges.

China has been preparing itself for the entry in two major aspects. On the one hand, it is publicizing WTO rules and related knowledge so that ordinary Chinese will acquaint themselves on the WTO and get to know how to embrace opportunities and meet challenges once accepted.

On the other hand, the central government is reviewing and will revise existing laws, regulations and policies that obviously contradict with the WTO rules, in a bid to lawfully guarantee the implementation of the WTO regulations.

Moreover, Zhu Rongji called on all trades and professions and all enterprises to increase their competitiveness and ability to cope with risks by accelerating reform, improving management and upgrading technology. Meanwhile, great efforts will be made to revise and further improve the relevant laws and regulations and train various types of specialized personnel.