Hong Song (Researcher, Institute of World Economics and Politics, Chinese Academy of Social Sciences)
Bin Sheng (Dean of the APEC Institute of Nankai University, Professor of Institute of International Economics of Nankai University)
Xinquan Tu (Dean of the China WTO Research Institute, University of International Business and Economics)
Keith Rockwell (World Trade Organization Spokesperson)
Josiah Melzer (Senior Fellow of the Brookings Institution)
Shuchao Gao (Member of the Advisory Committee of the WTO Chair in the Secretariat of the World Trade Organization, Associate Professor of the School of Law, Singapore Management University)
The average tariff level has dropped from 15.88% in 2001 to 9.6% in 2014, and the performance of the commitments is exemplary
Bin Sheng: China has made remarkable achievements in fulfilling its commitments and reforming economic and trade fields since its accession to the WTO. First, the degree of market access and openness has increased significantly. China imposes restrictions on tariff rates for all tax items, and the average tariff rate has dropped from 15.88% in 2001 to 9.6% in 2014. Since July 1st, 2010, China has implemented zero-tariff treatment on imports from least developed countries. In the field of non-tariff barriers, China has cancelled all import quotas and specific bidding management, and promised not to use agricultural export subsidies. Second, China vigorously promote the establishment of a rule-based, market-oriented economic and trade legal system. The "Administrative Licensing Law" implemented in 2004 provides an overall legal and administrative framework for China to fulfill its WTO commitments. The Foreign Trade Law, which was amended in April 2004, fully liberalized all Chinese enterprises' trade management rights. Except for the implementation of state-owned trade for a few goods, the foreign trade approval system was cancelled. The "Government Procurement Law" implemented in 2003 regulates government procurement behavior and improves the transparency of government procurement behavior at home and abroad. The "Anti-Monopoly Law" that came into effect on August 1st, 2008 is of great significance to the establishment of a unified, open, competitive and orderly market system. Third, the transparency of policy management has been significantly improved. Based on the principles of openness, transparency and predictability advocated by the WTO, China strives to create a business environment with fair competition.
Growing from an ordinary member to an important member of the WTO’s core decision-making circle, China makes continuous efforts to improve the voice of developing countries.
Bin Sheng: China is a firm supporter, defender, and important contributor to the multilateral trading system. For example, when China was the host of the 2014 Asia-Pacific Economic Cooperation (APEC) Leaders’ Informal Meeting, she urged the APEC Trade Ministers’ Meeting to issue the “Statement on ‘Supporting the Multilateral Trading System’.” reaffirmed the value, the core and primary status of the multilateral trading system, called for the faithful implementation of the "Bali Package" agreement, promised to complete the goals and timetable of the Agreement on Trade Facilitation, and urged other WTO members to formulate clear work plans for the remaining topics of the Doha Development Agenda. China promotes the implementation of the "Trade Facilitation Agreement" reached at the WTO Bali Conference. On September 4th, 2015, the Chinese delegation submitted a letter of acceptance to the WTO Director-General, marking that our country has formally completed the domestic approval process for accepting the Protocol to the Agreement, thus becoming the sixteenth member to accept the Protocol.
Bilateral and regional free trade agreements continue to emerge, but the WTO still plays a unique role in resolving trade disputes and monitoring trade policies
Bin Sheng: Although the WTO system currently has the advantage of multilateralism, it cannot provide impetus for the formulation of new global trade and investment rules with high standards and high quality in the 21st century. The Doha Round, which covered a wide range of topics, was originally intended to promote the development of global trade by further reducing trade barriers and achieving fairer trade rules. However, the process was extremely difficult and bumpy. One of the main reasons was that some developing countries increased implementation costs. The refusal to negotiate new rules on the grounds of income imbalance has caused the "Singapore issues" (trade facilitation, competition policy, investment, government procurement) that were raised in the early days of the Doha Round negotiations to fade out. When multilateralism is unable to promote new rules and systems, its advocating countries will shift the focus and resources of negotiations to regional, plurilateral or bilateral agreements, which can effectively solve the specific market access and regulatory issues that members are concerned about. At the same time, there may be economic and trade diplomatic and geopolitical benefits. The new global production network caused by the development of global value chains has triggered demands for reforms in global trade governance. The calls for establishing new rules and new systems that are suitable for the characteristics and trends of modern international trade and investment development continue to rise. Regional free trade agreements have gradually become test grounds for negotiation and implementation of new rules. If the General Agreement on Tariffs and Trade (GATT) was the 1.0 version of the trade agreement, and the WTO was the 2.0 version of the trade agreement, then these regional or bilateral agreements are the 3.0 version of the trade agreement. They are based on the current global value chain and international production. The new development of the Internet requires high-standard and high-quality trade agreements.
China's construction of a new open economic system is the greatest contribution to the multilateral trading system
Bin Sheng: China should actively build a new open economic system, implement a new round of high-level opening up, and form a new pattern of all-round opening up. This is also the biggest contribution to the multilateral trading system. China should adopt an attitude of openness, tolerance, and keeping pace with the times, and objectively understand the meaning and impact of the new trade and investment rules. China also should embed the global value chain in the blueprint of economic structural reform in the new era, innovate and practice new rules in some priority reform areas (including trade facilitation, investment protection, government procurement, environmental protection, e-commerce, etc.), and actively help achieve a high-level and high-standard free trade agreement to promote deep-level economic integration. China should continue to support and maintain the multilateral trading system, support the Doha Round negotiation process, and realize the development of the multilateral trading system in a more balanced, inclusive, and win-win direction. From a long-term perspective, China should also put forward its own propositions and suggestions on WTO rules and governance reforms from a development perspective and concept.
