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19. China formally becomes a WTO member in 2001

(People's Daily Online)
Updated: 2008-11-03 09:46

On November 10, 2001, the Fourth Ministerial Conference of the World Trade Organization (WTO)?held in Doha, Qatar approved the legal documents for China's accession to the WTO, which marked China finally becoming a? WTO member?after 15 years of hard work.

Members of the WTO made commitments during the Uruguay Round to safeguard China's benefits.

China will enjoy fruits of the trade liberalization under the multilateral trading system as well as the stable and unconditional most-favored-nation benefits.

The preferential rights endowed to China will help Chinese commodities enter the international market.

However, China's accession to the WTO also bring challenges to the government and enterprises and raise new requirement?for China to accelerate the conversion of government functions, administrating according to law, improving the technological level of enterprises, speeding up structural adjustment and improving the level of corporate governance.