China And WTO: Beijing actively advancing opening-up efforts to a higher level
Updated 20:29, 02-Jul-2018
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02:22
We start with China's determination in further opening up its markets. Beijing has released white paper detailing its commitments and contribution to the global economy, while mapping out a path for the future. The document has won applause from the international community, AND drawn some skepticism as well. Jiang Shaoyi has the details.
The long-anticipated easing of foreign investment curbs. That includes China's efforts in substantially widening market access for foreign investment. For example, foreign equity caps for companies engaged in shipbuilding, airplane manufacturing and automobiles will soon be lifted. And it will be much easier, faster and more convenient for foreign firms to do business here in China. All of that together with even more measures to advance the Free Trade Area Strategy. However, it seems like China's efforts to open up hasn't received fair credit. US Ambassador Terry Branstad says there is skepticism in America that China would follow on its plans to truly open up.
Last month, the Washington Post ran an opinion piece saying some of China's industrial policies "look like history's biggest assault on the WTO". However, when he was on CGTN's program The Point, former WTO chief Pascal Lamy said he finds the claim unconvincing.
And here's what the World Trade Organisation has to say, it always had the strong support of China, and that China's participation is vital for the organization in many key issues.
Just as China is lowering barriers to the world, the US, on the contrary, is busy building walls. After rounds of talks with Beijing, the Trump administration is going ahead with plans to roll out tariffs on some $34 billion of Chinese imports next week.
And it is threatening to impose tariffs on cars and auto parts from the European Union within months. It seems like "history's biggest assault" to global economy is not coming from China after all. JIANG SHAOYI, CGTN.