Schwab: ôMixed recordö for China on 5th anniversary of WTO accession
China's market liberalization efforts have slowed in 2006, U.S. Trade Representative Susan C. Schwab on Monday told Congress.
Schwab's report to Congress is statutorily mandated annual report on China's compliance with its World Trade Organization obligations.
According to the report, China has made broad progress in implementing reforms, but needs to focus on intellectual property rights enforcement and the elimination of government policies that hinder market access for United States.
'The United States and China have both benefited greatly from our growing trade relationship, and China's participation in the rules-based international trading system has aided China greatly as it transforms itself into a modern commercial power,' Schwab said in a statement. 'China has taken many important steps to implement its WTO obligations, but on the fifth anniversary of its WTO membership, China's overall record is decidedly mixed.
'Chinese reforms have lowered systemic trade barriers to many goods and services from the United States and other WTO members and have begun to strengthen the rule of law in economic matters. At the same time, certain industries face frustrating barriers to doing business in China, and there are worrisome signs that China's market liberalization efforts have slowed in the last year. With five years of WTO membership experience under its belt, we believe it is fair to expect China to be implementing the letter and spirit of its WTO obligations in full. This would benefit both of our countries and strengthen the global trading system.'
Since China entered the World Trade Organization on Dec. 11, 2001, exports of U.S. goods to China have grown 190 percent and China has gone from being the United States' 15th to fourth-largest export market, according to office of the U.S. Trade Representative.
Schwab: ?Mixed record? for China on 5th anniversary of WTO accession
