In 1986 China formally applied for reinstatement as a signatory state in the General Agreement on Tariffs and Trade (GATT), so as to make its foreign trade conform more to international practice. Since the World Trade Organization (WTO) was founded in 1995, China continually applied to participate in it. During this period, China lowered its import tariff rates on several occasions and realized the convertibility of RMB in regular items. Over the past 14 years, China's enthusiasm for acceding to the WTO has never flagged and it has put its commitments into practice. That is to say, with its status as a developing country as the premise and the Uruguay round of negotiations as the basis, China undertakes its obligations suitable to its economic development level, actively strengthens negotiations with the United States, European Union and other member states. Bilateral and multilateral negotiations for China's entry into the WTO have reached the final stage. The day for China to join the WTO is not far away. Meanwhile, China actively participates in the activities sponsored by the Asian-Pacific Economic Cooperation Organization, and plays an important role in the organization. The bilateral trade relations between China and the United States, the European Union, Russia and Japan have been constantly strengthened.

See more about Opening to the outside world

About Opening to the outside world

. Foreign Trade . Utilizing Foreign Capital . Foreign Economic and Technological Cooperation . Opening Western China Wider to the Outside World

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