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Foreign Business to Have More Chances After China Joins WTO
Foreign business will have more chances to be admitted into the Chinese market after China formally enters the World Trade Organization (WTO), visiting Chinese Vice-President Hu Jintao said Thursday.
"While China enjoys the rights as a WTO member, it will fulfill its responsibilities according to the rules of WTO. This means it will offer more opportunities for foreign firms to develop in the Chinese market," said Hu, who began his five-day official visit to Thailand on July 18.
Speaking at a banquet in his honor sponsored by the Thai business circle and local Chinese community, Hu said China is revising and perfecting concerned laws and rules to ensure that the national and foreign firms do business under a less-limited, standard and transparent legal framework.
"China's entry into the WTO is not only a result of development of the reform and opening-up process, but also a necessary choice for the country to actively catch up with the globalization trend," he added.
Hu stressed that the entry will see China's integration into the world economy in a wider scope, more comprehensive fields and on a higher level.
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