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| China Capable of Handling Challenges From WTO Entry: Minister |
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SAT, NOV 10, 2001
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China will be capable of seizing opportunities and well handling challenges arising from its entry into the World Trade Organization (WTO), Chinese Minister of Foreign Trade and Economic Cooperation Shi Guangsheng said here Friday.
Shi, head of the Chinese delegation attending the fourth sessionof the WTO ministerial meeting which opened here Friday afternoon, made the remarks during a joint interview with 10 local media from Qatar.
China's accession to the WTO will become a reality at the meeting, he said, adding that the country's entry will be "good for China, for members of the WTO and all trade partners of China."
In the course of its 15-year procedure, China has made pledges in three areas -- creating a more convenient trade environment, including lowering customs duty and cutting customs barriers; giving market access especially in such service trade areas as telecommunications, finance, insurance and tourism, which all have timetables of opening; and creating a stable and equal investment environment.
China will gain new chances of development following its WTO entry, but enterprises with lower management expertise and technical knowhow will face challenges, Shi said.
"China has more than 20 years of experience in opening to the outside world and reform and its economy is relatively strong," he said, adding that "China is entirely capable of grasping the opportunities and meeting the challenges."
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