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China Vows to Open Wider to Outside World
Vice Minister of Foreign Trade and Economic Cooperation (MOFTEC) Zhang Xiang said Saturday that China will take the opportunity of entering the World Trade Organization (WTO) to open up to the outside world.
Speaking at the ongoing Second Globalization Forum in the southern city of Sanya, Zhang said that various Chinese departments are fine-tuning policies and measures in line with the requirements of developing an open economy.
China will reduce its tariffs as promised, gradually remove the approval system involving foreign trade, and finally abolish the restrictions on import quantities, Zhang said.
China will also work to perfect its financial support system to make it comply with international practices, Zhang noted.
He said that China will promote electronic commerce and establish information consultation services on foreign trade.
China will also improve its laws and regulations governing foreign investment and encourage foreign capital to flow into key sectors and areas.
He disclosed that China is stepping up promulgation of new laws and regulations, while making amendments to existing ones that are not compatible with current situtation.
The forum, with the theme of "21st Century: Knowledge, Creativity, Development", opened in Sanya Friday. Attending are some 300 delegates from more than 10 countries and international organizations.
Organized by the People's Daily, the Hong Hong-based Foundation for Globalization Cooperation, and the Ministry of Information Industry, the forum is an international academic conference on economic trends in the world. The first forum was convened in May 2000 in Beijing
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