China marks 10 years as partner in world trade
November 22,2011
Editor:AT0086.com| Resource:people.com.cn
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China saw a nearly five-fold increase in both imports and exports since its entry into the World Trade Organization 10 years ago, creating more than 14 million job opportunities for the rest of the world
China saw a nearly five-fold increase in both imports and exports since its entry into the World Trade Organization 10 years ago, creating more than 14 million job opportunities for the rest of the world
China's Assistant Commerce Minister Yu Jianhua gave a detailed overview of the country's rapid development over the past decade on Nov. 17.
China has fully fulfilled its WTO commitments
Yu said that China has transformed from a new WTO member into an active participant and promoter in the organization over the past 10 years and is becoming a respected, mature and responsible member.
Over the past decades, China has fully participated into WTO affairs and played a constructive role in promoting the Doha negotiations by making more than 100 proposals. The country has also actively promoted the formulation of multilateral trade rules, earnestly carried out trade policy review and answered more than 3,500 questions about its trade policies and measures.
In addition, it has successfully handled trade disputes with other members and protected the legal interests of Chinese enterprises through proper use of the WTO dispute settlement mechanism. WTO Director-General Pascal Lamy said that China has delivered an "A-plus performance" since it joined the multilateral trading system.
Decade of rapid development
According to data released by the Ministry of Commerce of China, during the past 10 years, China's more than doubled. In 2010, China's total import-export volume of goods was more than 1.4 trillion U.S. dollars, accounting for 10 percent of that of the world, while the foreign investment in China totaled more than 700 billion U.S. dollar, and more than 347,000 new foreign-invested enterprises were founded in China.
In the past 10 years, China gave a preferential zero-tariff treatment to 41 most undeveloped countries for certain goods and has turned into the largest export market for them. In the past 10 years, China's imports from the most undeveloped countries totaled more than 200 billion U.S. dollar.
Meanwhile, China also forgave more than 400 governmental loan debts owned by more than 50 heavy-debt countries and most undeveloped countries.
Treating trade frictions peacefully
Regarding the increasing trade frictions, Yu said that China currently is the largest export country and second largest import country of the world and has trade relations with more than 200 countries and regions. Therefore, the trade frictions will inevitably increase. However, we should settle these issues peacefully, Yu said.