Chinese Trade Minister on Importance of Intermediary Organizations

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Last updated at: (Beijing Time) Monday, June 03, 2002

Chinese Trade Minister on Importance of Intermediary Organizations

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After China's entry into the World Trade Organization, intermediary organizations should play a larger role in boosting the national economy and foreign trade, says Minister of Foreign Trade and Economic Cooperation (MOFTEC) Shi Guangsheng.

As bridges between the government and industry, intermediary organizations played a major part of the socialist market economy,Shi said in Beijing Monday at a relevant seminar held by the MOFTEC.

Chinese intermediary organizations, which are still in their beginning stages, should speed up reforms by drawing on the experience of developed countries, he said.

Shi acknowledged that the efficient use of go-between organizations demonstrated the government's capability in handlingmarket economy. Intermediary organizations should make reasonable suggestions to the government on behalf of businesses, he noted.

He expressed the hope that intermediary organizations would help businesses set up quality standards and explore export markets.

Shi also cited the go-between's role in regulating the market economy and fighting against trade protectionism.

When implementing WTO requirements, adhering to the relevant rules and expanding its opening-up, China should enjoy WTO rights,utilize those rules and safeguard national economic security as well, he added.

As an authority in charge of intermediary organizations' registration and management, the Ministry of Civil Affairs would set up appropriate supervisory institutions, Deputy Minister JiangLi told the seminar.

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