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Home >> Business
UPDATED: 21:26, May 24, 2005
WTO official praises China's commitment to multilateral trading system
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A senior World Trade Organization ( WTO) official said on Tuesday in Beijing that China has demonstrated its unstinting commitment to the multilateral trading system by continuing ahead with its program of broad reforms.

Dr. Kipkorir Rana, deputy director-general of the world trade body, said China, which became a WTO member in 2001, has been very active in the negotiations of the Doha Development Agenda.

"The size of China's population and economy make it an influential play in the global economy. Our work in the coming months will be enriched by the inputs and perspectives of all WTO Members, including China," said the Rana.

In 2004, China ranked the world's third biggest trading country and became the largest foreign trader in Asia, he told the ongoing China Economic Summit 2005.

"China has emerged as the third largest importer after the United States and Germany and fourth in exports following Germany, the United States and Japan in 2003.

"It continues to grow rapidly as 'the world's market' while retaining its reputation as 'the world's factory'," Rana said.

Economic reforms, during the last decade, have paved a way for Chinese businesses to improve their overall ability to respond to new market opportunities, he said.

China has made noteworthy progress in promulgating and publish laws and regulations, and building institutional setup, he said.

Source: Xinhua


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