China's State Council Information Office has released a white paper on China and the World Trade Organization. The document is a summary of China's achievements, contribution and commitments to the WTO. RORY COEN takes a deep look.

The "China and the World Trade Organization" white paper is divided into four parts. Each focusing on an important aspect regarding China's 17-year contribution to the WTO.

China acceded to the WTO in 2001. Since then, the country has been consistently reforming to develop a socialist market economy and while rigorously improving its legal system. By 2010, China has lowered the average tariff rate on goods from 15-point-3 percent in 2001 to less than 10 percent. China has also honored its commitments on trade-in-services, by opening up its markets and slashing investment restrictions. China has also enhanced Intellectual Property Right protection. It has set up 3 IPR courts in Beijing, Shanghai and Guangzhou and special judicial organs at 15 intermediate courts.

China is a STAUNCH supporter of the multilateral trading system and has taken concrete actions to uphold its integrity. It has safeguarded the effective operation of the WTO dispute-settlement-mechanism and has properly handled trade disputes with other members. It has been actively participating in trade policy reviews. It's called upon the WTO to focus more on the concerns of developing member countries. China also stands firmly against unilateralism and protectionism.

China has embraced the world with open arms and has made significant contributions to the global economy since it joined the WTO. Since 2002, China's contribution to global economic growth has approached 30-percent on average. Its foreign trade has benefited 120 countries. The Belt and Road Initiative is China's latest move to share its economic development with the world. --This year, China will hold the first annual International Import Expo, seeking to buy more goods from the world and boost consumption. The expo will further increase access to China's burgeoning domestic market.

China has taken a number of measures in recent months to further open up its economy. It has established the China International Trade Single Window, to facilitate faster and lower cost trade. It will remove foreign equity caps in the shipbuilding and auto sectors, while also allowing for majority foreign ownership in a wide range of financial sectors. China's policymakers have axed more than 40-percent of administrative approval items for foreign companies investing in China.

The white paper's conclusion says China is willing to work hand-in-hand with its trading partners to make globalization more open and inclusive.