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China's ten years in WTO a success
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2011 marks ten years since China joined the World Trade Organization. To recognise the occasion, Chinese officials and business executives gathered at a forum in Beijing.
They say the last decade has been a success, but Chinese companies could do more to expand overseas. Liu Ying reports.
China's international trade has expanded rapidly over the past decade. But an increasing number of trade disputes have posed a challenge to Chinese exporters, seeking to expand overseas.
Long Yongtu, China's former trade representative, labels it protectionism. But he says those issues should ease as economies emerge from the global financial crisis. And that's good news for Chinese companies.
Long Yongtu, China's Former Trade Rep., said, "It's impossible for trade protectionism to cause substantial damage to China's international trade and economic power. China's economic strength relies more on the domestic market. Trade protectionism is basically a political show in response to domestic political pressure. I believe that as the worst of the global economic crisis passes, so will the worst of international trade protectionism."
As China's economic competitiveness improves, more and more Chinese enterprises are choosing to invest overseas.
But trade experts warn Chinese companies should do their homework before expand into foreign markets.
Wang Jinzhen, Vice Chairman of China Council for the Promotion of Int'l Trade, said, "Still you see a lot of companies don't know the business environment, don't know rules and regulations in the targeted country, rules of trade unions. If you really want to have smooth operations in another country, you have to know these regulations before you make the decision."
Still, Chinese companies are calling for greater access to overseas markets.
They say there should be a process for overseas markets to adapt to increasing Chinese investment.
"Chinese companies have benefited greatly from the country's entry to the WTO. But going forward, they'll need to better adapt to the international trade environment. That should be made easier if China gets a bigger say in the making of international trade and economic rules. Liu Ying, CCTV, Beijing."
