LINE

    Text:AAAPrint
    Economy

    China's WTO entry benefits world

    1
    2016-12-11 09:12Xinhua Editor: Feng Shuang ECNS App Download

    Since entering the World Trade Organization (WTO) 15 years ago, China has witnessed robust economic growth, and an increasingly prosperous China has created significant opportunities for countries around the world.

    China joined the WTO as its 143rd member on Dec. 11, 2001. Since then, the country has grown into the world's second-largest economy and largest trading country, while millions of Chinese have been lifted out of poverty.

    Changes for the Chinese include buying cheaper cars, enjoying international products and traveling more.

    "China's WTO entry has brought benefits not only to the country's people, but also for the rest of the world," said Lei Da, economics professor at Renmin University of China.

    China has long been vital in helping shore up world economic growth, especially in the aftermath of the 2008 financial crisis. Despite slower growth in recent years, China's economy still contributes 25 percent of the world's growth.

    As the vast Chinese market has grown, countries as diverse as Zambia, Australia, Brazil and the United States have seen their exports to China soar.

    It is clear that China's strong demand for imports has been a major stabilizing factor amid a sluggish world economy.

    China's imports have surged from 243.55 billion U.S. dollars to 1.68 trillion dollars in 15 years, an average annual growth of 10.3 percent.

    For many developing countries, no matter in Asia, Africa or Latin America, the Chinese market has been vital in ensuring growth and development stay on track.

    China has also been ready to help poorer partners develop. As the world's second biggest investor, the country's outbound direct investment rose for a 13th straight year in 2015, reaching a record high of 145.67 billion dollars.

    Dubbed the factory of the world, China manufactures everything from toys and shoes to bullet trains and industrial robots.

    From 2001 to 2016, thanks to imported goods from China, consumers around the world saved billions of dollars. Quality yet inexpensive Chinese products contributed to an increase in consumer purchasing power and helped reduce worldwide poverty.

    Companies that opened operations in China have profited. Foreign-invested industrial enterprises reported combined profits of about15 trillion yuan (around 2.2 trillion U.S. dollars) over the past 15 years.

    Despite a tepid global recovery, the continuous growth of foreign investment in China shows that investors are upbeat about the country's business climate.

    Looking ahead, China will remain a center of trade and other global activity, playing a leading role in global governance.

    As China plans to be more proactive in opening up to the outside world, its stable growth will produce more benefits for the world.

      

    Related news

    MorePhoto

    Most popular in 24h

    MoreTop news

    MoreVideo

    News
    Politics
    Business
    Society
    Culture
    Military
    Sci-tech
    Entertainment
    Sports
    Odd
    Features
    Biz
    Economy
    Travel
    Travel News
    Travel Types
    Events
    Food
    Hotel
    Bar & Club
    Architecture
    Gallery
    Photo
    CNS Photo
    Video
    Video
    Learning Chinese
    Learn About China
    Social Chinese
    Business Chinese
    Buzz Words
    Bilingual
    Resources
    ECNS Wire
    Special Coverage
    Infographics
    Voices
    LINE
    Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
    Copyright ©1999-2018 Chinanews.com. All rights reserved.
    Reproduction in whole or in part without permission is prohibited.
    主站蜘蛛池模板: 航空| 昌邑市| 弥勒县| 乌苏市| 确山县| 正蓝旗| 清原| 蒲江县| 贡嘎县| 迁安市| 辉南县| 岑溪市| 仁化县| 威远县| 资兴市| 三亚市| 岑巩县| 从化市| 阜阳市| 象山县| 洱源县| 湖北省| 繁昌县| 扶余县| 密山市| 新密市| 钟山县| 延寿县| 巴塘县| 巴东县| 余庆县| 饶河县| 南漳县| 柳林县| 淳化县| 偏关县| 德庆县| 贞丰县| 新平| 察哈| 白沙|