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| Vice Minister Yi Xiaozhun Addressing the Opening Ceremony of the Special Report on the 5th Anniversary of China's Accession to the WTO |
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| 2006-12-18 14:54 MOFCOM |
On the occasion of the fifth anniversary of China's accession to the WTO on Dec. 11, Mr. Yi Xiaozhun, Vice Minister of Commerce attended the opening ceremony of an event sponsored by CCTV named "Special Report on the 5th Anniversary of China's Accession to the WTO", when he delivered a speech as follows:
Distinguished guests and friends:
I am very glad to take part in the event of Special Reports on the 5th Anniversary of China’s Accession to the WTO sponsored by CCTV. I believe it is very meaningful to make this special report on the occasion of the 5th anniversary of China’s WTO accession when we can look back on the past and ahead to the future. On behalf of the Ministry of Commerce, I would like to extend my warm congratulations on the opening ceremony of the activity.
On this very day 5 years ago, in Doha, the capital city of Qatar, China became a full member of this international economic and trade organization, the WTO. It was a great event of historical significance in the course of China's reform and opening up. It was the result of a major strategic decision of the Central Party Committee and the State Council made on the basis of their foresightedness and correct judgment on the global developments in the current era to actively meet the challenges of economic globalization. It was a courageous practice and fruit of Mr. Deng Xiaoping’s reform and opening up theory.
In the past 5 years, China has been active in seizing the historical opportunities brought about by the economic globalization. Great achievements have been made in its economic and social development. China's GDP broke through US$2 trillion reaching US$2.227 trillion in 2005, ranking No.4 in the world. Its foreign trade volume hit US$1.4221 trillion in 2005, ranking No. 3 in the world, and its share in global trade increased from 3.9% in 2001 to 6.7% in 2005. In the mean time, the annual average actual use of foreign investment was close to US$55 billion. And the accumulative total of real FDI input got to US$274.1 billion.
While the economy and trade are growing, China's industrial structure is also being adjusted. The export commodity mix is notably improving. In 2005, the electromechanical products accounted for 56% of China’s total exports, while the share for high and new technology products was 28%. Finished products took up 94% of the total export volume. The Chinese people have been benefited in many aspects with their overall living standard and quality of life improved remarkably. During the 5 years, altogether 41 million employment opportunities have been created, the per capita annual disposable income of the urban households was up by 58% and the per capita annual net income of the rural households increased by 29%. Furthermore, the poverty-stricken population in the rural areas decreased from 32.09 million to 23.65 million.
In the past 5 years, China's opening up initiative experienced the following 3 major changes:
1, opening up on a region-by-region basis is changing to all-round opening up.
2, the opening area is expanding from the traditional trade in goods to trade in services.
3, the market access conditions are more rule-based, transparent, and standardized.
The concepts that the WTO advocates are better understood in China. Such WTO principles as transparency and nondiscrimination have become basis for Chinese legislations. Global prospective, innovative vision, competition and development awareness, rule of law, and IPR are wining popular support.
Such great achievements we made in the past 5 years since China joined the WTO are attributable first of all to the correct decisions and guidance of the Central Party Committee and the State Council. It is also the result of the earnest and effective work of different government and industrial departments nationwide. China experienced altogether 15 years of difficult negotiations since 1986 for resuming its contracting party status in GATT and then for entry into the WTO. On behalf of MOFCOM, please allow me to extend my warmest regards and sincere thanks to all comrades from the central and local governments who have been involved in the WTO negotiations and the corresponding work after the accession.
China's achievements in the past 5 years since its WTO accession can not be separated from its great efforts in market liberalization, law-based management of state affairs and government administration. During the 5 years, China has strictly followed the WTO rules, and earnestly implemented its obligations and commitments. The import duty has been lowered substantially from 15.3% averagely 5 years ago to the current level of 9.9%. Non-tariff measures have been eliminated. The trading right has been liberalized. Trade in services market has been liberalized, which is now one of the most open markets in the world. Efforts are strengthened in IPR protection. And the laws and regulations in the trade area have been sorted out in an effort to shape up a unified and transparent legal framework compatible with the WTO rules.
China’s experience in the past 5 years since acquiring the WTO membership once again testifies that China can not develop in isolation from the world, while the development of the world also needs China. China’s development and advancement have not only benefited the prosperity of the neighboring countries, but also improved the overall competitiveness and development potential of East Asia at large. Furthermore a better developed China has provided the world with a bigger market and the investors with more opportunities. It therefore serves as a key engine for world economic growth. In the past 5 years, China’s total import was worth more than US$2 trillion and foreign investors remitted US$57.9 billion of profit out of China. China has been contributing to 10% of the global economic growth.
Since becoming a WTO member 5 years ago, while making contributions to the world economic growth, China has also been embarking on the road of peace facilitating a harmonious world. We have been actively engaged in the DDA negotiations and the drafting of new world trading rules, in promoting the trade and investment liberalization worldwide, and in upholding justice in protecting the interests of the developing countries. China has become a significant balancing power in the multilateral trading system. China firmly opposes trade protectionism. By applying the WTO rules, China has intensified its negotiation efforts with foreign parties in order to properly address the trade frictions and safeguard the legitimate benefits and interests of the numerous Chinese companies.
Now, the WTO transition period for China is basically ending, which means our economic development is coming to a new start point. We must keep a clear mind when facing the new circumstances, new issues and the new challenges. Although China has become a big economy, it is still not a strong economic power. Its per capita GDP is only US$1702, ranking No. 110 in the world. The extensive style of economic growth has not been fundamentally changed. China’s competitive advantages mainly lie with labor-intensive industries. The industrial competitiveness is yet to be strong, while the innovation capability is weak. Few exports are found to be Chinese proprietary brands. All of these factors, the imbalanced import and export in addition, have a negative impact on the quality, environment and future direction of China’s economic growth.
In the future development, we must stick to the scientific philosophy of development as guidance for all economic activities. Mr. Deng Xiaoping once pointed out, “Development is the main principle”. Only by development, specially scientific development, can we find the key to open all problematic locks. Therefore, we must deepen the reform and continue on the road of promoting reform and development through opening up.
The achievements made after China’s WTO accession 5 years ago bring us more confidence and motivity for further advancement. The development in the coming 5 to 10 years depends on our effective actions and full preparation. Under the guidance of the Central Party Committee and the State Council, we will deeply carry out the scientific philosophy of development, intensify our knowledge on the development rules of economic globalization, strengthen our capability in making right judgments on the complex domestic and international circumstances, and make more scientific and foresighted decisions. We will also try all means to improve the quality and level of opening up, take good advantage of the domestic and international markets and resources in order for a more successful economic and trade undertaking under the new circumstances, and the realization of the grand objectives of a well-off society and a harmonious socialist society.
Thank you!
(Source: Network Center of MOFCOM)
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