Davos World Economic Forum (WEF) sponsored a Dialogue on China’s Impact on Global Trade and Economic Growth on January 27. Chinese Commerce Minister Chen Deming stated at the Dialogue that China would take the 10th anniversary of its accession into the WTO as a new start point and open wider to the world. 



This Dialogue was chaired by Peter D. Sutherland, Chairman of Goldman Sachs International and the first Director-General of the WTO. Pascal Lamy, Director-General of the WTO, attended the Dialogue as a panelist. Besides, more than 500 representatives participated into the Dialogue. 



Minister Chen said in his speech that on the occasion of 10th anniversary of China’s accession into the WTO, he would like to make three points. Firstly, China’s accession into the WTO was an important milestone for China in its opening-up. Ten years ago, China was firm in accepting multilateral trade rules by WTO and made vast and in-depth commitments in industry, agriculture, services and intellectual property rights when confronting difficulties and challenges. In past decade, China successfully promoted its reform and development by its opening-up and turned from a fresh WTO member and participant to a mature member as an impellor. China's average tariff has dropped from 15.3 present to 9.8 percent at present. China has opened more than 1oo sectors in service trade and widely sorted out laws and regulations involving over 3000 laws and regulations. Meanwhile, China learned and applied market rules to accelerate the establishment of the steady and foreseeable trade system and make its commercial environment more open. Moreover, China will integrate the WTO’s principles of “non-discrimination”, “transparency” and fair competition with Chinese economic system and propagate market awareness, sense of legality and knowledge of IPR. 



Chen said, the last ten years since China’s accession into WTO are a period when China and the world share prosperity and win-win. Although some countries had doubted whether China could abide by the rules, fulfill its commitments, China has proved through deeds that it could. In the period, exports have increased 4.9 times and imports by 4.7, with a two-fold increase in its GDP. The decade was one of the best periods for China's development, and people’s income increased remarkably. While participating into China’s construction, foreign enterprises shared the opportunities of the growth of China’s market. Chinese enterprises also began to go global through overseas investment. China's overseas investment soared to $60 billion in 2010 from around $1 billion 10 years ago. Besides, China is striving to reduce and eliminate the North-South Divide, shoulder relevant international obligations and boost South-South Cooperation. What’s more, China was active in trade promotion and aid. China will grant zero-tariff treatment to over 95% exports from 41 least developed countries in three years beginning from last year and has become the export destination of the least developed countries. 



Chen stressed that China would be more open in the next decade. Chinese domestic consumption increased by 15% annually in the past decade, and it will keep growing. China’s import will increase with it. China, with a population of 1.3 billion, shall share its development and prosperity with the rest of the world. In the future, China will attach more importance to encouraging the Chinese companies to invest overseas, increasing imports and to domestic consumption. 



When touching on Doha Round Negotiations, Chen stated that the on-going negotiations are the important in making new rules. If every member could boost the negotiations to make breakthrough by concerted efforts, the global trade will have a better environment and the global economy will recover faster. The success of Doha Round Negotiations will benefit each member of the WTO. China hopes that all members could work together to safeguard and promote the process of negotiation. And China will do its best to push up negotiations though it is a member of developing country. 



Doha Round Negotiations are on the development so that it should pay more attention to the benefits of developing countries. Achievements of Doha round negotiation were not easy to come by, and there was no way out if to abandon these achievements and make a new start. Doha Round negotiations are multilateral negotiations on trade, efforts to be made should focus on pushing forward the process and the discussion of draft documents. China would like to engage in bilateral talks with other countries. But such talks should be open and transparent and serve the purpose of multilateral negotiations. 



Lamy spoke highly of China’s fulfillment of its commitments and stated that although China’s paid a price when joined the WTO, it enabled China in its fight against protectionism and gaining in great trade environment. China’s accession into the WTO is a typical case to prove that openness, competition and economic integration could bring win-win outcomes. 



After the Dialogue, Minister Chen gave a press briefing in Davos WEF media center and answered questions by reporters from home and abroad.