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Economic Laws Need to Match WTO Rules: Professor

Professor Guo Shoukang, from the People's University of China, pointed out that economic and financial laws in the country have to match the rules of the World Trade Organization (WTO).

Guo expressed his views in Beijing Tuesday at a lecture on law attended by members of the Standing Committee of the National People's Congress, which was presided over by Li Peng, chairman of the NPC Standing Committee.

China, in its current transition from a planned economy to a market one, should study the regulations of the organization and try to link domestic laws with WTO rules, so as to ensure the fulfillment of China's commitment of abiding by WTO rules, the scholar said.

Taking measures to match local laws with WTO rules is consistent with China's goal of building and improving its socialist market economy, he noted.

It is necessary to promulgate certain laws to meet the requirements of entry to the WTO, while laws that run contrary to WTO codes must be abandoned, he said.

When stipulating laws adhering to WTO rules, the member countries would obtain their rights and space to make laws, according to the professor. China should carry out its duties and enjoy its rights, in a bid to safeguard national interests, he said.

He urged the study of international conventions related to the WTO entry, while trying to protect national rights and interests by using domestic laws properly.

After entry into the WTO, China will have the right to participate in the making of new rules for the international body, rather than passively abiding by rules stipulated by others, he said.

(People's Daily 10/31/2000)

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