China's Economy to See an Additional Increase of 0.7-1% by WTO EntryChina's entry into World Trade Organization (WTO) is estimated to offer it a motivation for its economy to increase by 0.7-1 percent annually, according to Qiu Xiaohua, deputy director of the National Bureau of Statistics at a forum on September 8.Qiu pointed out that during the reform and opening-up of the past 20 years or so, new driving forces have come into being for multi-oriented economic increase in China. In view of the development, China's WTO entry will prove to be a new drive for China's economic development; and in view of the reform, the entry will push China to deepen its reform and administer the country in line with international practices. With regards to the challenge after China's WTO entry, Qiu said that the biggest one would be the talent shortage and the government's transparency in administration as well as the monopolized industries to confront with the international market competition. In view of this, we must establish a high-effective macroeconomic control system, readjust social resources in accordance with the market economy, enhance staff's quality, and improve enterprises' competitive power and the government's adaptability to WTO rules, he added. By PD Online staff member Huang Ying |
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