Persistent opening-up best manifestation of China's WTO commitment

BEIJING -- China's accession to the World Trade Organization (WTO) 20 years ago has proved to be a watershed economic event of the 21st century, changing the political-economic landscape of not only China but also the world at large.

China's continuous opening-up serves as the best way to celebrate its 20th WTO entry anniversary and promote development and deliver dividends to the world, in spite of the rising protectionism that is posing threat to the current global trade.

China is a trustworthy member of the WTO, has fully and effectively fulfilled its commitments to the organization, and has earned wide recognition from the vast majority of WTO members.

In its resolute efforts to reach the WTO goal of ensuring that "trade flows as smoothly, predictably and freely as possible," the country's overall tariff level has dropped to 7.4 percent from 15.3 percent in 2001, lower than the 9.8 percent the country promised when entering the WTO.

China has also widely opened its market in the services industry, which has made the Chinese consumers the growth engine of the world economy and one of the major driving forces behind economic globalization.

Over the past two decades, China has witnessed explosive economic growth, rising to become the world's second-largest economy from the sixth upon entering the WTO. China now boasts the world's biggest middle-income group, a population of over 400 million.

A major player in the global economy, China today is also playing a much more active role on the international stage, shouldering responsibilities as a major country should, sharing with the rest of the world its experience and contributing to global development. The Global Development Initiative proposed by China is the latest example.

China's indefatigable pursuit of opening up to the world has done more than just steering itself onto the lane of healthy and sustainable development. The world at large has benefited from China's openness and the opportunities brought about by its mammoth economy.

China today is much more than a "world factory" where made-in-China products have brought much convenience to the world at a reasonable price. It has burgeoned as an increasingly significant "world market."

Currently, China is the major trading partner of more than 120 countries and regions worldwide. In 20 years' time, China has seen its total imports increase from 240 billion U.S. dollars in 2001 to 2.1 trillion dollars in 2020. Foreign enterprises have benefited from their presence in China, casting a vote of confidence for China's openness with bigger bets.

Over the past two decades, China has contributed to an average of nearly 30 percent of the global economic growth every year. Over the years, China gradually became an integral and trustworthy link in the global supply chain. This status has been strengthened by the country's efforts in promoting the fair distribution of vaccines and stabilizing the supply chain amid the COVID-19 pandemic.

The past two decades have also seen China continuously deepen reform and open up to embrace opportunities and challenges. In recent years, China has been pursuing a new form of high standard opening-up featuring institutional and systemic openness.

In this regard, the country's efforts include implementing the pre-establishment national treatment, shortening the negative list for foreign investment, setting up free trade zones and protecting intellectual property rights.

China's accession to the WTO has enabled it to engage in international trade and commerce on a level playing field.

Twenty years on, as a global economic driver, China is determined to open its door wider and promote more win-win cooperation with the world. 

The views don't necessarily reflect those of Qiushi Journal.