Head of the Department of International Trade and Economic Affairs of the Ministry of Commerce interprets China's position paper on WTO reform under the current circumstances

Recently, China submitted a position paper to the World Trade Organization titled “China’s Position on WTO Reform Under the Current Circumstances.” The Ministry of Commerce’s WTO Department provided an interpretation of the position paper. The position paper includes two parts: the overall stance and work recommendations. The overall stance introduces China’s general understanding of the WTO and its basic attitude toward WTO reform. The position paper states that the WTO provides an open, non-discriminatory, stable, and predictable institutional guarantee for economic globalization. Multilateral trade systems have been impacted by unilateral tariff measures. Despite escalating trade tensions, WTO rules and mechanisms remain an important barrier against trade turbulence; unilateralism and protectionism are not solutions to the problems. All parties should respond to the real challenges brought by economic globalization through multilateral cooperation, domestic reforms, and inclusive, mutually beneficial development. The position paper emphasizes that economic globalization is an unstoppable historical trend. WTO reform should aim to strengthen multilateral trade governance, uphold the cornerstone role of most-favored-nation treatment within the WTO rule system, and place development at the center of WTO reform agenda. It should address long-standing unresolved issues and explore the formulation of new rules for the future. The work recommendations section proposes China’s priorities for WTO reform. (CCTV News)