China comprehensively fulfils WTO commitments

On June 28, the White Paper on China and the World Trade Organisation was released. The White Paper is published to give a full account of China’s fulfillment of its World Trade Organisation (WTO) commitments, to explain China’s principles, stances, policies, and propositions regarding the multilateral trading system, and to describe China’s vision and actions in advancing higher-level reform and opening-up. In 2001, China acceded to the WTO. This was a milestone in China’s integration into economic globalization, marking a new historic stage of reform and opening-up. Since its accession to the WTO, China has been a strong advocate for free trade. China has comprehensively fulfilled its commitments to the WTO, substantially opened its market to the world, and delivered mutually beneficial and win-win outcomes on a wider scale. Through these efforts, China has lived up to its responsibility as a major country. China firmly observes and upholds the WTO rules, and supports the multilateral trading system that is open, transparent, inclusive and non-discriminatory. China has participated in all aspects of WTO work, made its voice heard and contributed its own proposals on improving global economic governance. China is an active participant, strong supporter and major contributor in the multilateral trading system. Accession to the WTO has boosted China’s development and benefited the rest of the world. Propelled by a new vision of development, the Chinese economy is transitioning from rapid growth to high-quality development. China has become a major stabilizer and driving force for the world economy. China stays committed to the strategy of opening-up for winwin results, vigorously promotes the Belt and Road Initiative, and shares opportunities and benefits with other countries and their people while developing China itself, enhancing global wellbeing and common prosperity. At the historic starting point of a new era, China’s door of opening-up will not be closed and will only open even wider. Opening-up was key to China’s economic growth over the past 40 years. In the same vein, high-quality development of China’s economy in the future can only be achieved with greater openness. The White Paper gives a whole picture of China’s comprehensive fulfillment of its WTO commitments, firm support for the multilateral trading system, proactive embacement of economic globalization and polices adopted to promote high-standard liberalization and facilitation of trade and investment. China will continue adhering to the fundamental national policy of reform and opening-up and will work together with other countries to build a community of shared future with extensive converging interests and a high degree of interdependence. Friendship between China and Bahrain dates back to ancient times and will be everlasting. Since the establishment of diplomatic ties in 1989, under the guidance of the leaders of our two countries, high level exchanges have become more frequent, political mutual trust has been constantly strengthened, cultural exchanges have been greatly expanded and economic cooperation has been significantly promoted. China and Bahrain have become friendly partners of mutual understanding and trust and cooperative partners of win-win result. Both China and Bahrain are WTO members. By joining hands to uphold WTO spirits and rules, the trade cooperation between our two countries has become closer and boarder in recent years. The billateral trade volume between China and Bahrain reached a new high at $1.97 billion in 2017, 15% up on that of 2016, of which imports from China amounted to $1.65 billion, making China the largest import source of Bahrain. The Belt and Road Initiative proposed by China and Bahrain’s Economic Vision 2030 are compatible in development concept, areas and model. I firmly believe that, with the synergy of the Belt and Road Initiative and Bahrain’s Economic Vision 2030, the all-around friendly relations between China and Bahrain will surely enter a new beautiful era.