China's accession to the WTO has delivered a strong boost to its reform and opening-up process.

In 2001, China acceded to the WTO. This was a milestone in China's integration into economic globalization, marking a new historic stage of reform and opening-up. President Xi once said: "There was a time when China also had doubts about economic globalization, and was not sure whether it should join the World Trade Organization. But we came to the conclusion that integration into the global economy is a historic trend.

To grow its economy, China must have the courage to swim in the vast ocean of the global market. If one is always afraid of bracing the storm and exploring the new world, he will sooner or later get drowned in the ocean. Therefore, China took a brave step to embrace the global market. We have had our fair share of choking in the water and encountered whirlpools and choppy waves, but we have learned how to swim in this process.

It has proved to be a right strategic choice." Since its accession to the WTO, China has pressed ahead with reform and development by opening up while taking part in international economic cooperation and competition on a larger scale and at a deeper level, unleashing market dynamics and effectively advancing the reform and opening-up process.

We have actively improved the socialist market economy system, extensively reviewed and revised laws and regulations and strengthened the market system to straighten out the relationship between the government and the market so that the market plays a decisive role in resources allocation and the government plays its role better.

China has comprehensively honored its WTO commitments, with commitments for goods and services delivered in full in 2010 and 2007 respectively, a continuously lowering threshold for foreign investment, and strengthening protection for intellectual property in a landscape of all-dimensional, multi-tiered and wide-ranging open-up.

Efforts are made to boost international competitiveness as all sectors turn pressure into driving force and make opportunities out of challenges to advance industrial restructuring and integrate into global value chains with enhanced competitiveness and innovation to weather the storms of the world economy.