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China to review WTO related rules


07-18-2014 17:33 BJT

The central government has launched a nationwide framework to ensure that the country is fully compliant with the rules of the World Trade Organization. Experts say the move not only demonstrates China’s commitment to openness and transparency on global trade, but will also help solve trade disputes.

China has modified many of its rules after joining the WTO as over 190 thousand pieces of regulations have been disposed of during recent years. But this time China's effort is more active, and will go across the country. The State Council, the country’s top executive body, last month ordered its ministries and local governments to review their policies to make sure that none of them would act against WTO rules. The Commerce Ministry says it’s going to launch a policy review process.

In the nearly 13 years since China joined the world trade organization, the country has become the largest goods trading nation on earth. As China becomes more involved with international business, the Chinese government is taking a more active and responsible role in the global economy.

Experts say the move would also help China in settling international trade disputes.

MOFCOM officials say the new policy will aim at practical needs to solve real problems.

But it may be difficult, as the process is going to take some time and much work.

Officials pledged to solve these obstacles during their briefing Friday. Analysts say a stable policy stance would help attract more businesses to China and spur innovation.

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