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Long Yongtu: Three Benefits for China's WTO Entry
Vice-minister of Foreign Trade and Economic Cooperation Long Yongtu reaffirmed at the Chinese Enterprises Summit 2001 that China's accession to the WTO will create a favorable external environment for Chinese enterprises and entrepreneurs.
Long pointed out that economic globalization is a general trend, no country, enterprise and individual can ward off the trend. Joining the WTO is an unswerving action of the Chinese government. In fact, the preparations made by China for WTO entry are one of China's acts to merge into globalization.
Long said that participation in economic globalization may involve risks, but benefits brought from it will far outweigh risks. Enterprises are the mainstay in taking part in globalization, it is impossible for the Chinese government to turn out enterprises and entrepreneurs with international competitive edge. Greenhouses can never foster enterprises and entrepreneurs with competitiveness. They must grope for experience through market liberalization.
Long said that China will benefit by WTO entry in the following three aspects:
First, Chinese enterprises will enjoy a more favorable international environment. The Chinese government has made commitments to observe international rules and open its market. This will help create a good national image of China that holds itself responsible and abides by international regulations, it also brings great benefits for Chinese enterprises.
Second, enterprises will get more advantageous structural and market environments. These include three important factors. Namely, a sound transparent, predictable commercial legal framework; a good macro-economic policy and a clean, honest and efficient government; and a fair market mechanism.
Third, an open policy-related environment. Opening is a choice of the Chinese government, China resolutely opposes trade protectionism. An open, competitive environment is especially helpful to the development of enterprises.
Long said that more than six years have passed since the Uruguay round agreement, during the period, great changes have taken place in the international economic and political environment. There is the need to start a new round of multilateral trade negotiation and make new regulations. The APEC meeting, to be held in Shanghai this year, will provide an opportunity for promoting a new round of negotiation. China hopes to do its bit for this.
By PD Online staff member Li Yan
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