China Joins WTO

China Tuesday becomes a formal member of the World Trade Organization (WTO), the multilateral trade body's 143rd member.

The Ministry of Foreign Trade and Economic Cooperation (MOFTEC) said China will play an active role in the world trade body.

China is soon to send its ambassador to the WTO, as well as a delegation to Geneva -- headquarters of the WTO -- according to a statement issued by MOFTEC Monday.

The ministry vowed China will abide by WTO rules and carry out its commitments while enjoying its rights as a member.

"China will take an active part in the new round of multilateral trade negotiations of the WTO, and hopes to play a positive and constructive role along with other members,'' said the MOFTEC statement.

The State Economic and Trade Commission announced Monday it has abolished the first batch of 13 rules drafted by central government departments before the end of last year.

The drive aims to allow the government to adapt to new situations after China joins the WTO, a commission official said.

The Chinese government formally approved the multilateral agreement on its WTO accession on November 11, which comes into force Tuesday and signifies the WTO's formal acceptance of China as a member.

The close of China's 15-year quest to join the WTO is significant to the country, as well as the world, said the MOFTEC statement.

China's WTO membership is expected to promote the country's own reform, opening up and economic development, boost confidence in the global economic growth and secure the development of the multilateral trade mechanism.

"China is to make an active and positive contribution to the development of the world's economy and trade," according to MOFTEC.

China is expected to launch Tuesday a new set of stamps to celebrate its formal entry into the WTO.

(China Daily December 11, 2001)

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China's WTO Entry

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