China’s Role in the Multilateral Trading System

Abstract: After lengthy and tough negotiations, China became a member of the World Trade Organization (WTO) in 2001, which is widely considered as a landmark economic event in modern world history. The WTO accession marked a milestone of China’s economic opening and success in integration into the world economy. China’s trade opening, as well as global economic integration and multilateral trade rules, worked together to facilitate China gaining extraordinary economic and trade growth. In return, China has proved to become an indispensable engine for global economic growth, and its WTO membership has made the WTO a truly global and more relevant international organization. On the occasion of the 20th anniversary of China’s WTO membership, this chapter focuses on China’s performance in the multilateral trading system during the past 20 years, analyzing China’s overall implementation of WTO commitments and its contribution to the world economy and trade. More specifically, it takes the Initiative on Investment Facilitation as an example to analyze China’s leading role in spearheading recent “Joint Statement Initiatives” under the WTO framework. Furthermore, the chapter touches upon how China could assume its responsibility and commitment to the broader WTO reform.