WTO meeting appreciates Chinese's contribution to world economy

⁠⁠⁠⁠⁠⁠⁠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

China's movie box office, during the three-day Qingming (Tomb Sweeping) Festival holiday, hit 377 million yuan (roughly 52 million U.S. dollars), with small-budget and heartfelt productions drawing strong audience response.

According to online data, the top five performers during the holiday from Friday to Sunday were "Minecraft: The Movie," "We Girls," "Ne Zha 2," "Mumu," and "Fox Hunt."

Unlike major holidays such as the Spring Festival or summer vacation, the Qingming slot is relatively short and less competitive, offering more screening opportunities for mid- and low-budget films.

Movies such as "We Girls" and "Mumu," which focus on special social groups of female prisoners and parents with a deaf child, emphasizing emotional storytelling, resonated widely with the audience.

"It was deeply moving. Both my child and I were in tears. I'm still emotionally affected even after leaving the cinema," said An Na, a moviegoer in Jinan, east China's Shandong Province.

The emotional movie attracted large audiences.

"The turnout was quite strong, especially in the afternoons. On the day of Qingming Festival, our first show started at 08:20, and screenings ran all the way through to 02:00 in wee hours," said Hou Xuezhi, a manager on duty at a cinema in Shanghai.

The movie Mumu also launched a public welfare campaign during the holiday, inviting deaf viewers and their families for special screenings.

Another version of the movie with enhanced subtitle accessibility for the hearing-impaired , including descriptions of environmental sounds, background music, and voiceovers, as well as color-coded dialogue, is scheduled for nationwide screening on Tuesday.

In addition to new releases, the Chinese animated blockbuster "Ne Zha 2," the highest-grossing Chinese film of all time, enjoyed renewed popularity during the holiday, with its original release earlier this year.

"The film still has momentum. Many viewers missed it during the first round and came after hearing about it from their friends. It's now been three months since its release, but attendance remains solid," said Wu Ting, manager of a China Media Group (CMG)-affiliated cinema in Shanghai.

Low-budget films shine during Qingming Festival holiday