The World Trade Organization (WTO) finally opened its door to China on November 10, and the Chinese delegation signed a membership protocol with the WTO on November 11.
Under WTO rule, China will become a full member 30 days after notifying the global trade body of President Jiang Zemin's approval.
Shi Guangsheng, head of the Chinese Delegation to the Fourth Ministerial Conference of the WTO, noted the following three basic conclusions:
First, participation in the multilateral trading with a positive stance is the only way the various countries will be able to better share the benefits of economic globalization.
Second, the participants will be able to do their best during this globalization process only by establishing an economic and trade regime in line with their own international practices and specific economic situation, thereby safeguarding their financial security while opening up to the outside world.
Third, the multilateral trading system will be able to maintain its vigor only by constantly adapting itself to developments in the world economy and fully reflecting the interests of all parties, including those of developing countries. |