WTO Concludes China'S Third Trade Policy Review

In June 2nd, the World Trade Organization (WTO) successfully concluded its third trade policy since China's accession.

In the concluding remarks, Boz, chairman of the conference and chairman of the Turkey ambassador to WTO, Cott, spoke highly of China's active expansion of domestic demand and imports in the financial crisis and the recovery of the world economy.

Alan said that WTO members welcomed China's constructive role in the WTO and pointed out that a well functioning multilateral trading system would help China maintain its economic growth and development.

In the wake of tight World Trade and declining trade volume, the trade policy review on China highlights the important role of the WTO trade policy review mechanism in enhancing pparency among members, promoting consultation and cooperation and avoiding misunderstanding.

Alan said that because of the larger proportion of exports in China's economy, China is vulnerable to the global recession.

But the Chinese government has implemented a series of expansionary fiscal and monetary policies, including the 4 trillion yuan economic stimulus plan, which helped the Chinese economy rebound successfully in 2009 and made an important contribution to the global economic recovery.

Alan said that WTO members appreciated China's efforts in resisting trade protectionism, improving policy pparency and amending trade laws, and hoped that China would continue to adhere to the road of reform and opening up.

Members also put forward a series of suggestions on China's further reduction of trade barriers, enforcement and protection of intellectual property rights, and the expansion of service industries to the outside world.

WTO stipulates that all members need to receive trade policy consideration regularly. The first two deliberations of China were held in 2006 and 2008 respectively.

Preparations for the trade policy review began in January 2009.

In more than a year, the Ministry of Commerce has led the more than 30 departments of the State Council and the WTO Secretariat to hold several consultations on the China trade policy report, and submitted the Chinese government's "trade policy statement" to WTO in April this year.

At the two day meeting, the delegation headed by Yi Xiaozhun, Vice Minister of Commerce of China, exchanged views with other members of WTO on China's trade policies and measures over the past two years, and made written answers to more than 1500 questions raised by members.