| Statement by H. E. Ambassador Sun Zhenyu on China’s Transitional Review at the General Council |
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| Monday,December 22,2008 Posted: 17:16 BJT(0916 GMT) |
| From:WTO Article type:Original |
(18th December 2008, Geneva)
Mr. Chairman,
2008 is an extremely unusual year for China and for the whole world as well. People could very well remember that early in the year, China faced one of the most severe snow storms and millions of migrant workers were stranded at the railway stations of the coastal cities, with their annual Spring Festivals totally spoiled. In the middle of the year, the violent earthquake in Sichuan Province claimed more than 88,000 lives with more than 5 million people becoming homeless. In the last quarter of the year, the financial crisis struck the whole world and China was also hit heavily without exception. Shanghai stock exchange index fell by 2/3 from around 6,000 down to less than 2,000. Millions of small investors suffered heavy losses. China’s export also fell by 2.2% last month compared with the same period of last year, the first drop over the past 10 years due to the shrinking demand in the major markets. The challenges and difficulties that China faced this year are indeed unprecedented.
In spite of all the crisis and challenges, the Chinese Government remains firm to its policies of opening and reform. Right now back in our capital people are celebrating the 30th anniversary of the reform and opening process started by Mr. Deng Xiaoping. The Chinese Government is fully committed to multilateralism, is fully committed to sustainable development, and is fully committed to building a harmonious society and a harmonious world.
China is fully aware that it is the generous support and assistance from around the world that have helped us in overcoming the difficulties of the snow storm and the earthquake and it is the tremendous joint efforts from volunteers and athletes all over the world that have helped China in hosting a very successful Olympic Games.
China is fully aware of its responsibility to make its share of contribution to overcome the current world financial and economic crisis. The recent announcement of the stimulus package is an important step in that direction. China will spend RMB 4 trillion ( equals to $ 600 billion ) over the next two years on national infrastructure projects, including railways, airports, projects on welfares such as education, health care, social security network, projects of environment protection and on reconstruction of areas afflicted by the strong Earthquake. This package was received very positively by the world community.
Since China joined the WTO, we have been working hard to open further our market and have made valuable contributions to the world economy. China’s average tariff rate has dropped from 43.2% before joining WTO down to 9.9% at present. China’s average tariff level of industrial goods was cut down to 8.95%, and bound at that level, which is one of the lowest among developing Members. China’s tariffs for agricultural products are now bound at 15.2%, which is much lower than the world average of 62% and is even lower than quite some major developed countries. Export subsidies for agricultural products have long been totally removed in China and the level of domestic support is only limited to de minimums and green box.
Trade in services has also achieved a high level of liberalization. Around 100 out of 160 sub-sectors, have been opened to foreign investment, with foreign companies entitled to 100% ownership in 54 sub-sectors. Full national treatment is provided to foreign services suppliers in most of the committed sub-sectors.
China has strengthened IPR protection through more uniformed legislation, more efficient law enforcement and through deepening international co-operation. The “Outline of the National Intellectual Property Strategy” was published last June, which greatly boosted the morale for further strengthening IPR protection.
Transparency and public participation in China’s trade policy decisions have been greatly improved. All trade related laws and regulations are now published as committed by China upon accession. Since the beginning of this year, public opinions are solicited for all the drafts of the administrative regulations of the State Council and departmental rules of relevant ministries. This is a step further on our commitments in the WTO accession to provide public comment opportunities.
Due to China’s reform and opening policy, China’s economy has maintained a rapid and steady development, which in turn makes contributions to the world economy. According to the statistics of the World Bank, China’s annual contribution to the world economic growth averages 13% since China’s accession to the WTO, which equals to $ 75 billion added each year to the world economy. During the year 2001-2007, China imported around $ 4 trillion worth of goods from various countries of the world, with an annual increase of 30% in its import. There has been a net increase of more than $ 100 billion in China’s import each year since 2001. Many WTO Members, particularly the neighboring Asian countries have benefited a great deal from China’s fast growing imports.
Mr. Chairman, the international financial crisis has not only affected negatively world trade flows but also entails the risk of trade protectionism by some Members. We have noted with great concern some abusive measures such as trade remedies of anti-dumping and safeguards and technical trade barriers which hamper smooth flows of trade. China firmly believes that it is not the right approach to resort to trade protectionism at a time of crisis. It could only dilute Members’ joint efforts to save the world economy and not help resolve problems. Faced with the crisis, all Members should strengthen mutual trust and work together to weather the hard times, as was illustrated by my Minister Chen Deming at this year’s ministerial meeting, “ we are in the same lift going up and down together not on a seesaw board with one rising at the other’s expense.”
Mr. Chairman, China attaches great importance to the TRM and has made serious efforts in all the reviews of the 17 bodies under the General Council, answering more than 300 questions raised by Members. Representatives of relevant Ministries and agencies participated in the process and listened attentively to other Members’ concerns with a view to identifying necessary means for improvement of our work in the future. I would like to take this opportunity to thank the Chairs of the Councils and Committees and Sub-Committees as well as the WTO Secretariat for their hard work in the process. I would also like to thank all the Members who participated actively and in a responsible manner in the process of the review.
We remain steadfast in our belief that trade is the source of economic vitality and an open, vibrant and healthy multilateral trading system can make us better equipped against the severe winter of the world economy. China is willing to work closely with all Members for an early conclusion of the Doha Round to realize a world of greater trade liberalization and deliver Doha Round commitments.
Thank you Mr. Chairman.
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