WTO starts 5th trade policy review of China

Wang said that as it fulfills its own development tasks, China stands ready to assume responsibilities in international trade and economic affairs commensurate with its own level of development.

"China will remain committed to comprehensively deepening reform through accelerating the restructure of administrative, fiscal and financial systems to boost economic vitality across the ownership spectrum," said Wang.

He added that the government will push forward a new round of opening-up, actively utilize foreign investment, further open up the services sector, and create a level playing field for Chinese and foreign businesses to compete on an equal footing.

He noted that China will further open up inland and border areas, promote upgrading of export mix and trade growth in a balanced manner, and unify laws and regulations for domestic and foreign investors, improve the investment administration regime and further step up the reform on cross-region customs clearance.

"China will continue to champion and safeguard the multilateral trading system, support the Doha Round negotiations, and help steer the multilateral trading system towards greater balance, universal benefit and win for all," said Wang.

It was introduced that China has received over 1,600 written questions from 30 WTO members in advance of this year's review, a reflection of close attention paid to China's trade policies and practices and of China's increasing importance in global trade.

Members will make comments and raise questions with China during Tuesday's session. The Chinese delegation will deliver replies when the review continues on Thursday.

Trade policy reviews are an exercise, mandated in WTO agreements, in which member's trade and related policies are examined and evaluated at regular intervals. Significant developments that may have an impact on the global trading system are also monitored.

All WTO members are subject to review, with the frequency of review depending on the economy's size. The United States, China, the European Union and Japan are reviewed every two years.

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