Delegates from the member countries of the World Trade Organization (WTO) appreciated China's contribution to promoting global economic growth and upholding the multilateral trading system on Thursday, the first day of WTO's ninth Trade Policy Review of China.
The ninth review of the trade policies and practices of China takes place on July 17 and 19, 2024. The basis for the review is a report by the WTO Secretariat and a report by the Chinese government.
At the review meeting at the WTO headquarters in Geneva, Switzerland, delegates recognized that China's economy has shown strong resilience in the face of multiple external challenges, achieving a growth rate of 5.2 percent in 2023, and remaining an important driving force of the global economic recovery in the aftermath of the COVID-19 epidemic.
They said China has been the most important trading partner of many members, and has continued to promote trade and investment liberalization and facilitation in recent years by reducing tariffs, optimizing customs clearance procedures and introducing negative lists.
The delegates recognized that China has continuously promoted market-oriented reforms and green transformation and development of its economy through various measures, such as strengthening technological innovation, and has made outstanding contributions to the global low-carbon and green development and the response to climate change.
They said that China is an important and responsible WTO member and has played a positive and constructive role in the organization. In particular, some delegates spoke highly of China's great achievements in alleviating poverty and promoting inclusive and balanced development among regions and groups, which provide a successful model and development confidence for other developing members.
Some delegates hoped that China will improve the transparency of its trade policies so that other members could understand China's business environment, further open its market, especially to developing and the least-developed members, improve the level of facilitation and welcome more trade partners to share opportunities in the Chinese market, and increase outward foreign investment and technology assistance to deepen bilateral economic and trade relations.
Many members also expressed the hope that China would continue to firmly practice multilateralism, support the development agenda and take more leadership in WTO reform.
WTO meeting appreciates Chinese's contribution to world economy
