China ‘can’t avoid’ tough negotiations on SOEs, subsidies at WTO, trade ambassador says
- China’s WTO ambassador Li Chenggang says Western concerns are driven by protectionism and unilateralism
- China has done well in fulfilling WTO obligations and promises over the past two decades, says trade official
China should treat rising foreign concern over subsidies and the prominence of state-owned enterprises (SOEs) in the economy with a more rational, open and confident attitude, the nation’s ambassador to the World Trade Organization (WTO) said on Wednesday.
The world’s second largest economy needs to take part in creating new international trade rules, while also strengthening domestic reforms, Li Chenggang told a seminar organised by the University of International Business and Economics and China Internet Information Centre.
“Unilateralism and trade protectionism, driven by some major economies, have risen significantly. Coupled with the pandemic shocks, they led to more involution and restrictions,” he said via video link.
“[The major economies] have higher requirements and expectations on China. Such foreign concerns are likely to last for a long period.”
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His comments come as China, which marks the 20th anniversary of its entry to the WTO this weekend, grapples with fresh challenges from developed countries, which set post-World War II international economic and trade rules.