Xi stresses active participation in WTO reform, stronger ability for high-level opening-up

2023-09-28 10:39:55 | Source:https://english.news.cn

BEIJING, Sept. 27 (Xinhua) -- Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, has stressed efforts to actively participate in the reform of the World Trade Organization (WTO) and improve the ability to handle high-level opening-up.

Xi made the remarks while presiding over a group study session of the Political Bureau of the CPC Central Committee on Wednesday.

Noting that the WTO is an important pillar of multilateralism and an important stage for global economic governance, Xi said it is a common consensus and a general trend to implement necessary reforms of the WTO.

He urged efforts to fully participate in WTO reform and adjustments of international economic and trade rules, while promoting deep-level reform and high-quality development with high-level opening-up.

Since its accession to the WTO more than 20 years ago, China has become the world's largest trader for goods and a major trading partner for over 140 countries and regions, contributing an average of nearly 30 percent to the world's annual economic growth, Xi said.

Historical changes have taken place in the relationship between China and the WTO, he said, noting that the country has gradually grown from a passive recipient of and an active adapter to international economic and trade rules, to an important participant in this field.

Facts have proven that China's decision to join the WTO has been a perfectly right one, as the accession has not only accelerated China's own development but also benefited the rest of the world, Xi said.

As for participation in the WTO reform, Xi called for firmly upholding the authority and efficacy of multilateral trading system with the WTO at the core, and actively promoting the restoration of the normal operation of the WTO dispute settlement mechanism.

He stressed the need to stick to the overall trend of economic globalization, champion free trade and true multilateralism, oppose unilateralism and protectionism, oppose politicizing, weaponizing and overstretching the concept of national security on economic and trade issues, and build an open world economy.

He also stressed improving the Chinese solutions in the country's extensive and in-depth participation in WTO reform while upholding the concept of a global community of shared future, as well as firmly protecting the legitimate interests of developing countries including China.

Noting that this year marks the 45th anniversary of China's reform and opening-up, Xi urged efforts to open up wider to the outside world and make steady progress on reform.

China should align itself with high-standard international economic and trade rules in a more proactive manner, steadily expand institutional opening-up in areas such as rules and management, and nurture new pacesetters for opening-up, Xi said.

Xi also demanded building new systems for a higher-level open economy and accelerating the building of a new development paradigm.

Active steps should be taken to cultivate a first-class business environment that is market-oriented, law-based, and internationalized, he said.

While seeking to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement, China should take it as an opportunity to further stimulate imports, expand market access and promote in-depth development of multilateral and bilateral cooperation, Xi said.

Efforts should be made to develop digital trade, enhance the country's status in international division of labor and move up the global value chain, Xi said, stressing safeguarding national economic security in the process.