Changing times demand bigger role in WTO

He Yafei, former vice-foreign minister of China, CCG consultant

Globalization entered a new phase after the 2008 global financial crisis, and today the world is witnessing a power shift and change in global governance.

While defending the existing global governance mechanism with the United Nations at its core since the end of World War II, China advocates reform of international relations to establish a new win-win model based on common prosperity and shared development. Its proposals are in accordance with the interests of the entire international community. China is a defender of and contributor to the global governance mechanism, not a violator as some Western media outlets allege.

China supports the global trade and investment system featuring free, open and fair trade. It will continue to participate in and lead global governance to make it more open and transparent.

China will also make more contributions to global governance, and intensify its efforts to raise global economic growth. And it will provide more global public products and play a more positive role as a major economic power.