China vows to be a responsible WTO member

 

China's chief negotiator for entry into the World Trade Organisation (WTO) said the country would be a responsible member when it joined the global trade body, an official newspaper reported today.

Xinhua

"While enjoying the benefits of being a member of the WTO, China will also perform its relevant duties and abide by the rules of the WTO," Mr Long was quoted as saying at an investment and trade conference in China's southern city of Xiamen.

China will need to slash existing trade tariffs and open up key sectors to foreign investment after it joins the WTO, which is expected in early 2002 at the latest.

Mr Long said China would speed up its reform of the insurance, banking, telecommunications, commercial and travel services industries, the newspaper said.