China's accession to WTO 'most significant': senior WTO official

"In the absence of the surge of imports into China over the last six or seven years, it's very likely the global recession would have further deepened and that Asian countries would have been more adversely affected," he said.

Furthermore, China is one of the very few major developing countries which committed to granting duty-free treatment for up to 97 percent of products made by least-developed countries.

"Ever since 2008, China has become the leading export destination for the poor countries, absorbing about a quarter of their total exports," said Yi.

Yi also said that by bringing China under its umbrella, the WTO took a huge step towards achieving its goal of universal membership and inclusiveness.

"As a result of China's accession, one of the world's biggest economies is now playing by the same multilaterally-agreed rule book just as other major trading nations," said Yi.

"This is no small achievement, particularly in terms of strengthening global trade governance and the multilateral trading system."

Yi said China's successful accession has also inspired many other developing countries to join the WTO.

Being the biggest merchandise trader in the world, one of the largest recipients of foreign direct investment, and the top trading partner of over 120 countries and regions, China and many of its policy changes will inevitably have a huge impact on the rest of the world, said Yi.

"Hence, in the latest WTO Trade Policy Review on China in July this year, the WTO called upon China to assume the increased responsibility and leadership that comes with being a central player in the multilateral trading system," said Yi.

Yi said China was being encouraged to ensure fair and equitable participation of state-owned enterprises in market competition, build better mechanisms for intellectual property protection and work with all members to address the problem of overcapacity.

"While China's huge achievements during the 15 years of WTO membership are to be commended, the country must not rest on its successes," said Yi.

"It is essential that China continue to play an active and constructive role in the WTO so that the multilateral trading system can continue to deliver new trade reforms in the future."

To contact the reporter: fujing@chinadaily.com