Liberia has become the 52nd country in the world to recognize China's market economy status, the Ministry of Commerce said on its website.

The Liberian move came in line with a memorandum of understanding signed by senior officials of the two countries in Liberian capital Monrovia on Tuesday, the ministry said.

In April 2004, New Zealand became the first country to recognize China's market economy status.

Last year, Australia, Republic of Korea, Israel, Kazakhstan, Ukraine, Belarus, Iceland and six other countries also followed suit to acknowledge China's market economy status.

China's three biggest trading partners, the European Union the United States and Japan so far have not recognized the country's market economy status.

An official from the ministry said Chinese enterprises suffer unfair treatment in facing anti-dumping probes launched by other countries due to not being perceived to have a market economy status.

"This is against the fair trade rule of the World Trade Organization," he said.

Source: Xinhua