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WTO Conducted Fifth Trade Policy Review (TPR) on China

The World Trade Organization (WTO) conducted the fifth trade policy review on China in Geneva on July 1st . Assistant minister of Ministry of Commerce Wang Shouwen who led the Chinese delegation, Chinese resident ambassador to WTO Yu Jianhua and representatives from relevant domestic departments attended the meeting.

Wang focused on a series of new measures taken by the Chinese government for further deepening reform and opening up and new progress made by China in the field of trade and investment since the Third Plenary Session of the 18th Communist Party of China Central Committee, and summarized the efforts made by the Chinese government to support and participate in the multilateral trading mechanism since the last TPR.
   
Wang said that in the past one or two years, the Chinese government has vigorously promoted reform of administrative approval system, registration system of industry and commerce, and fiscal, taxation and financial systems, supported the development of medium and small businesses, strengthened intellectural property right protection and devoted in cultivating business environment for fair competition. Meanwhile, the Chinese government has taken active measures, simplified management procedure of imports, pushed forward the regional integration of cargo clearance, encouraged foreign investment, simplified management procedure of foreign exchange, expanded the opening of service industry and endeavored to raise the standards of liberalization and facilitation of trade and investment.
   
Wang emphasized that China is an active participant of, a strong supporter of and an important contributor to the multilateral trading system. China takes concrete action to support WTO and firmly oppose trade protectionism. China fulfills the notification obligations under the supervisory mechanism of financial crisis of WTO on schedule and supports the WTO’s supervision on trade and investment barriers. In May, China actively promoted each member to make A Separate Statement on “Supporting Multilateral Trade System”in the meeting of Trade Ministers of APEC, reiterated the firm support for multilateral trading system and opposed all forms of protectionism. The General Office of China’s State Council issued a Notification on Further Strengthening Compliance Work of Trade Policy (NO.29【2014】)on June 17th, requested each department of the State Council and local governments of different levels to further do a good job in checking if the regulations, normative documents and other policies and measures referring to goods trade, service trade and intellectual property concerning trade conform to the rules of WTO and the commitments China made when joining the organization in 2001. The Chinese government officially reported to WTO the implementation plan of relevant measures in Agreements on Trade Facilitation on June 30th .
   
Wang said China, a developing major trading country, adheres to the policy of opening up market, undertakes the due obligations which are commensurate with its own strength and development level in international economic and trade affairs, and makes significant contributions to the development of world economy and trade and the South-South cooperation.
   
Other members of the WTO pay high attention to this TPR for China. Before the review meeting, relevant members submitted over 1,500 written questions to China, concerning numerous policies and measures of China’s macroeconomic system and in economic and trade areas.
   
According to WTO rules, top four members in global trade volume need to be reviewed biyearly. China has accepted the TPR by the WTO in 2006, 2008, 2010, and 2012 respectively.


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