China to be a bigger investor and importer on the international market
The first ten years of Chinas WTO membership has supported one of the countrys fastest and best growth periods and the next ten years will embrace more opening up, said Chen Deming, Chinese Commerce Minister at the World Economic Forum in Davos, Switzerland.
In the last ten years, China cut its tariffs to 9.8 percent to 15.3 percent and opened more than 100 service sectors. The countrys exports and imports were 4.9 times and 4.7 times as much as ten years ago. China became the worlds second largest importer in 2010 and its imports in goods reached 1.4 trillion U.S. dollars, accounting for 10 percent of the worlds total.
That is also one of the best and fastest period of the economic growth in China, Chen said. The countrys GDP more than doubled, Chinas per capita income was 800 U.S. dollars in 2001 and rose to 2,500 U.S. dollars in 2009, with more than 200 million people out of poverty.
In addition, China attracted more than 70 million U.S. dollars of foreign investment and 480 multinationals on the worlds top 500 has operation in China.
The domestic consumption market also increased by 15 percent annually over the past ten years. That strong momentum will continue in the next ten years as the country will further open its market, said Chen.
Promotion of international investment by Chinese enterprises, more imports and bigger domestic consumption is on the top of the agenda for the country. The 10th year anniversary of Chinas WTO membership will a new starting point for Chinas further opening up, Chen noted.
Chen believes that Chinas imports from the international market would surge and contribute more to the world trade as a whole. He added that China had to accept more stringent condition for its WTO accession. However, that has also helped China ward off some protectionism attacks to some extent, he said.
Pascal Lamy, Director-General of WTO, described Chinas WTO membership as a win-win deal for China and the rest o! f the wo rld.
On the regard of the pending Doha talks, Chen called for realistic expectation for the negotiation, given the difficult recovery of the world economy. He urged all parties involved to stop exchange of criticism and make concerted efforts on a successful conclusion of the negotiation.
Chen stressed that China regards the multilateral trade rules as the foundation of any new rules and bilateral free trade agreements with other economies as a complement. The Doha talks should be recognized as an important part of the new rules and China, Chen pledged, will make all efforts to facilitate a breakthrough of the talks for a more favorable environment for the world economic recovery.
By Li Jia, Peoples Daily Online
In the last ten years, China cut its tariffs to 9.8 percent to 15.3 percent and opened more than 100 service sectors. The countrys exports and imports were 4.9 times and 4.7 times as much as ten years ago. China became the worlds second largest importer in 2010 and its imports in goods reached 1.4 trillion U.S. dollars, accounting for 10 percent of the worlds total.
That is also one of the best and fastest period of the economic growth in China, Chen said. The countrys GDP more than doubled, Chinas per capita income was 800 U.S. dollars in 2001 and rose to 2,500 U.S. dollars in 2009, with more than 200 million people out of poverty.
In addition, China attracted more than 70 million U.S. dollars of foreign investment and 480 multinationals on the worlds top 500 has operation in China.
The domestic consumption market also increased by 15 percent annually over the past ten years. That strong momentum will continue in the next ten years as the country will further open its market, said Chen.
Promotion of international investment by Chinese enterprises, more imports and bigger domestic consumption is on the top of the agenda for the country. The 10th year anniversary of Chinas WTO membership will a new starting point for Chinas further opening up, Chen noted.
Chen believes that Chinas imports from the international market would surge and contribute more to the world trade as a whole. He added that China had to accept more stringent condition for its WTO accession. However, that has also helped China ward off some protectionism attacks to some extent, he said.
Pascal Lamy, Director-General of WTO, described Chinas WTO membership as a win-win deal for China and the rest o! f the wo rld.
On the regard of the pending Doha talks, Chen called for realistic expectation for the negotiation, given the difficult recovery of the world economy. He urged all parties involved to stop exchange of criticism and make concerted efforts on a successful conclusion of the negotiation.
Chen stressed that China regards the multilateral trade rules as the foundation of any new rules and bilateral free trade agreements with other economies as a complement. The Doha talks should be recognized as an important part of the new rules and China, Chen pledged, will make all efforts to facilitate a breakthrough of the talks for a more favorable environment for the world economic recovery.
By Li Jia, Peoples Daily Online
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