On promises including that it would become more open, China joined the World Trade Organization in 2001. 

Entry to the WTO led to a series of moves including the establishment of special economic zones. China started to roll out special zones to welcome overseas businesses. The first Free Trade Zone was established in Shanghai Pudong District in 2013, and now the country has a total of 11 free trade zones. 

The country's goal was to bring down its average tariff to 10 percent, and in 2010, the average was down to 9.8 percent. The latest average weighted tariff cited by the Ministry of Commerce is 4.4 percent, a level that's competitive with developed nations. The weighted tariff for Australia is four percent, three percent for the European Union, and 2.4 percent for the US. 

While China moves up the global value chain, the country has also been working to help voices from the developing world be heard in the global arena. Tang Beijie, the deputy secretary-general for the Center for China and Globalization told CGTN that China's active participation in the WTO system has not only reinforced the stronger international rules, but is also helping increase representation for emerging economies.

China’s cheap labor and huge consumption demand have been attracting overseas investors. But it doesn't mean China gains across the board. With global manufacturers pouring into the country, China has to bear the cost. 

“There is no such thing as a free lunch. Some traditional industries were not protected well – such as agriculture. China used to be soybean exporter but now it relies heavily on soybean imports, especially from the US. And some multinational companies moved their low-end manufacturing bases to China, damaging the local environment and keeping wages low,” said Xu Hongcai, the deputy chief economist for the China Center for International Economic Exchange.