Since its entry into the World Trade Organization (WTO) 15 years ago, China has seen steady economic growth. Official statistics show that China has been the world’s biggest trader of goods by volume for three consecutive years, turning out to be the biggest trade partner of more than 120 countries and regions. By the end of 2010, China had fulfilled all its promises for joining the WTO by revising over 2,300 laws and regulations, lowering its tariffs, lifting its control of foreign trade transactions and opening up its services market. Experts cautioned that China has to take concrete measures to tackle the potential challenges of trade friction and rising protectionism, currency wars and capital outflow in the upcoming years and great efforts should be made to push more countries to grant China market economy status.
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