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Chinese delegation elaborates on China's trade policies to address WTO members' concerns

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      China

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      Chinese delegation elaborates on China's trade policies to address WTO members' concerns

      2024-07-20 10:28 Last Updated At:14:37

      The Chinese delegation on Friday comprehensively and actively responded to the concerns of the World Trade Organization (WTO) members about China's economic and trade policies at the organization's ninth Trade Policy Review of China, held at the WTO headquarters in Geneva.

      The review, which took place on Wednesday and Friday, was based on a report by the WTO Secretariat and a report by the Chinese government.

      During the second meeting of the view on Friday, the Chinese delegation briefed WTO members on the outcomes of the third plenary session of the 20th Central Committee of the Communist Party of China (CPC), which just concluded in Beijing on Thursday. A resolution on further deepening reform comprehensively to advance Chinese modernization was adopted at the session.

      China said that the WTO members have reason to believe that China's drive to continuously deepen reforms, expand opening-up and promote the high-quality development will bring new and greater opportunities to the world.

      At the meeting, China responded to the concerns of the members in a frank and open manner. Focusing on issues concerning industrial policies, subsidies, state-owned enterprises, intellectual property protection, export controls, inspection and quarantine measures and others, the Chinese delegation made in-depth explanations from the perspectives of policy goals, specific operations, implementation effects, and future directions.

      The delegation further clarified China's position on expanding market opening to the least developed countries, upholding its status as a developing member, and flexibly and pragmatically handling special and differential treatment issues.

      The Chinese side also firmly refuted the false accusations of so-called "overcapacity" and "economic coercion" by some members, stressing that China's subsidy policies have always been in line with the WTO rules, and the success of Chinese companies stems from market competition rather than government subsidies. They stressed that the so-called “economic coercion” has never been, is not, and will never be a part of China’s trade policy. The Chinese side also pointed out that certain members often practice "long-arm jurisdiction", setting up various control lists, and arbitrarily sanctioning companies and individuals from other member countries, which is the real source of economic coercion.

      During this review, a total of 71 WTO members shared their perspectives. In general, the members spoke highly of China's great achievements in reform and opening up and its outstanding contributions to the work of the WTO. They expressed their willingness to further deepen economic and trade relations with China and are full of expectation that China will continue to play a greater role in promoting global economic recovery, boosting pragmatic cooperation among developing members, and maintaining the multilateral trading system.

      Adamu Mohammed Abdulhamid from Nigeria, chairperson of the Trade Policy Review Body and the WTO Secretariat congratulated China on the successful review.

      Chinese delegation elaborates on China's trade policies to address WTO members' concerns

      Chinese delegation elaborates on China's trade policies to address WTO members' concerns

      Next Article

      China ranked second in global soft power index

      2025-02-20 22:46 Last Updated At:02-21 00:17

      China has overtaken the United Kingdom to take second place on the 2025 Brand Finance Global Soft Power Index, which was released on Thursday.

      While the United States retained the top position, China took second spot for the first time with a score of 72.8 out of 100, according to the report published by the British consulting firm Brand Finance.

      The annual index, based on a survey of more than 170,000 respondents across 100 countries, assesses the global image of the 193 UN member states and provides an in-depth analysis of 'soft power' across multiple dimensions.

      The agency has divided the building blocks of 'soft power' into eight key pillars: business and trade, international relations, education and science, culture and heritage, governance, media and communication, sustainable future, and people and values.

      The report also noted that since 2024 China has made significant progress in six of the eight soft power pillars and two-thirds of measured attributes.

      This stems from strategic efforts such as the Belt and Road Initiative, an increased focus on sustainability, and stronger domestic brands moving in to global markets, said David Haigh, Chairman of Brand Finance.

      China ranked second in global soft power index

      China ranked second in global soft power index

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