Five years after China signed on to join the World Trade
Organization, WTO Director-General Pascal Lamy said that the
nation's membership in the global trade body is a "big plus for
everyone."
No one doubts China's achievements since becoming a WTO member
on December 11, 2001. China's trade volume this year is expected to
reach US$1.7 trillion, more than triple the US$509.6 billion
notched up in 2001.
The WTO conducted its first review of China's trade policy in
June this year, and was generally positive about the situation.
"Even if there are still areas that need some improvements, the
political commitment and determination shown by the Chinese
Government is serious and responsible and all members have
acknowledged it," said Lamy.
Since joining the global trade body, China has adjusted its
trade policies in accordance with its commitments to the
organization, said Zhang Xiangchen, director of the department of
WTO affairs at the Ministry of Commerce.
First, measures have been taken to improve the transparency of
laws and regulations.
"From the end of 1999 to 2005, the central government
constituted, adjusted and abolished over 2,000 laws, regulations
and rules in line with its WTO commitments," Zhang said.
Second, the country's commodity market has been largely opened
to international competitors.
China's average tariffs were lowered to 9.9 percent in 2005 from
15.3 percent in 2001, while tariffs on industrial products were
reduced to 9 percent and those on agricultural products were cut to
15.3 percent.
Third, China is also opening its service market in line with its
commitments to the global trade body.
"As the country adjusts its laws and regulations concerning the
service market, overseas service providers have gained increased
access to the Chinese market," Zhang said.
Over 100 service sectors, or 62.5 percent of the total service
industry, have been opened to international players. This
percentage is close to the level of developed WTO members.
Finally, the country's enforcement of intellectual property
rights (IPR) protection has improved following the adjustment of
virtually all IPR-related laws and legal explanations to conform to
international rules.
The WTO trade policy review also urged China to address some
problems related to non-trade barriers and encouraged the country
to accelerate its efforts in subsidy notifications.
However, Zhang acknowledged, trade protectionism is rising as
economic globalization gathers pace.
As China's trade volume with the rest of the world continues to
grow rapidly, the nation is becoming embroiled in more trade
conflicts and has become the biggest victim of trade disputes China
is involved in one out of every seven global dumping
disputes.
"We expect China will continue to encounter trade disputes for a
rather long period of time," Zhang said.
As the world's most populous nation marks the fifth anniversary
of its entry into the global trade body, China is also poised to
become an even bigger player in economic globalization.
For example, China has made numerous efforts to restart the
WTO's stalled Doha round of talks in a bid to lower global trade
barriers.
(China Daily December 6, 2006)