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Chinese consumers, who now have a greater selection of goods to choose from, are among the beneficiaries of China's World Trade Organization (WTO) accession.
There are more than 400,000 Chinese-made products on the market, compared with more than 1.5 million products manufactured by other countries.
Domestic consumers are pleased that restrictions have been lifted on many imports.
The tariff on vehicle imports is one example.
China will trim the import tariff on cars to 25 per cent by 2006 ?from the current 80-plus per cent ?in accordance with commitments it made to join the WTO.
China will reduce to 10 per cent the tariff on spare vehicle parts.
Many non-tariff barriers ?including import licences and requirements that foreign-funded automakers give priority to local suppliers ?will eventually be eliminated.
Such measures throughout the year led to reduced prices for imported cars, and, subsequently, domestic automakers cut their prices to compete. This led to an unprecedented boom in car sales.
Many non-competitive sectors, including monopolistic sectors, are being opened to competition, which will benefit consumers.
China's WTO accession has also ignited an all-round competition in the market.
Enterprises are vying with each other on all fronts ?including quality, prices, sales and service and credit services.
The competition is not just between domestic enterprises, but between domestic firms and their foreign counterparts. Foreign enterprises are also competing with each other.
More Chinese consumers unhappy with domestic foods and clothing have developed international preferences for items as China's economy and globalization have grown.
Commercial districts in major cities ?including Beijing, Shanghai and Shenzhen ?are being renovated to better accommodate fashionable, international commodities.
But everything is positive. The gap in living standards between different regions could widen.
As people in affluent coastal cities enjoy the latest fashions and trends, many manufacturers will try to sell their outdated products in China's less competitive central and western regions.
Low-income residents and farmers will naturally become the main buyers of these low-end commodities.
Globalization meanwhile, is a double-edged sword. While consumers have greater purchasing options, they also face greater risks.
China will have to tighten its inspection and quarantine measures on imports of certain foods, animals and plants to guarantee consumers?safety.
Chinese people, on the whole, are optimistic about their livelihoods in a post-WTO China.
The China Monitoring Centre of Economic Prosperity and China Central Television (CCTV) recently conducted a survey to gauge people's expectations about their lives over the next five years.
The results indicate 59.5 per cent of respondents believe their livelihoods will improve "significantly;?38.5 per cent expect big changes after five years; and 2 per cent are pessimistic about their prospects.
Most respondents, or 91.5 per cent, said they expected to have better choices of commodities and services within five years.
(Business Weekly December 17, 2002)
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