China has announced it will no longer seek new special privileges in World Trade Organization (WTO) negotiations, marking a strategic shift in its approach to global economic governance. The decision, revealed during Premier Li Qiang's speech at a UN General Assembly side event, signals Beijing's growing confidence in its economic maturity while reaffirming its status as the world's largest developing country.
At a Beijing press briefing, Ministry of Commerce officials framed the move as a balancing act between national development needs and international responsibilities. 'This demonstrates China's commitment to both safeguarding multilateral trade systems and advancing global development initiatives,' said Li Chenggang, China's international trade representative.
The policy shift comes as WTO members debate reforms to address modern trade challenges. Han Yong, head of MOFCOM's WTO Affairs Department, emphasized that China's decision aims to keep development at the heart of institutional reforms while bridging economic divides between developed and developing nations.
Analysts suggest the announcement could reshape global trade dynamics, potentially encouraging other major economies to take on greater responsibilities. However, officials stressed that China will continue advocating for developing members' rights while pushing for trade liberalization and WTO modernization.
