To assess the past 10 years since joining the World Trade Organization, China has for the first time released a white paper focusing on its foreign trade achievement and its contributions to the global economy. The Chinese government issued the paper on Wednesday at a press conference in Beijing.
China was the world’s largest exporter and second-largest importer for two consecutive years by the end of 2010. And the Ministry of Commerce says it’s optimistic about prospects in the EU.
To assess the past 10 years since joining the World Trade Organization, China has for the
first time released a white paper focusing on its foreign trade achievement and its
contributions to the global economy.
Wang Shouwen, director of Foreign Trade Dept. MOC, said, "If next year, the EU financial crisis is not out of control, I believe China’s foreign trade will also achieve a considerable level of growth."
China’s foreign trade has achieved remarkable progress in recent years. The total value of the its imports and exports reached 2.97 trillion U.S. dollars in 2010, a 144 fold increase over 3 decades, with an average annual growth of 16.8 percent.
China’s foreign trade has achieved remarkable progress in recent years.
According to the paper, China’s foreign trade development has "greatly pushed forward the country’s modernization drive". It also brought benefits to the global economy.
Wang Shouwen, director of Foreign Trade Dept. MOC, said, "In the first 10 months of this year, China’s imports from the EU and the US grew faster that China’s exports to these markets. So I think China’s efforts are also contributing to the economic recovery of the EU and the US. "
The country saw an increasing number of trading partners and has gradually formed a diversified import and export market.
China has honoured its WTO commitments over the past decade by expanding market access, accelerating trade, investment and liberalization.
Reducing trade barriers and administrative hurdles have also contributed to reforms in its foreign trade.
Source:cntv.cn