In a significant move to enhance transparency and foster mutual understanding, China held a side meeting on its trade policies in Geneva on Tuesday. The event took place ahead of the World Trade Organization’s (WTO) ninth trade policy review of China, aiming to provide WTO members with deeper insights into China’s economic and trade policies.
Experts and scholars from the Chinese mainland, along with representatives of overseas-funded enterprises operating in the Chinese mainland, presented the latest policies and measures adopted by China to achieve high-quality development and further opening-up. They shared practical experiences and engaged in meaningful dialogues with over 100 participants, including members of the WTO secretariat, delegates from WTO member countries and regions, international organizations, and media representatives.
Addressing concerns raised by WTO members regarding China’s macroeconomic performance and domestic reform initiatives, the experts provided comprehensive analyses and forecasts. They elaborated on China’s new measures in developing “new quality productive forces,” building a unified national market, and promoting the growth of the private economy.
Li Chenggang, the permanent representative of China to the WTO, emphasized the importance of trade policy reviews in the effective operation of the WTO. “Trade policy reviews are not only an important way for the WTO to supervise trade policies and enhance the transparency of the policies of its members, but they are also an important platform for enhancing understanding and building trust,” Li stated.
This side event marked the first time China has conducted such a meeting on the eve of its trade policy review. The proactive initiative reflects China’s positive and open attitude toward international trade cooperation.
Alexander Keck, Chief of Global Economic Analysis at the WTO, commended China’s approach in preparing for the review. He acknowledged the event’s role in promoting an in-depth understanding of China’s economic and trade policies among WTO members, increasing trust, and dispelling doubts within the organization.
China’s ninth trade policy review is scheduled to take place from July 17 to July 19, offering an opportunity for WTO members to engage in constructive discussions about China’s trade policies and practices.
Reference(s):
cgtn.com
