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Timetable for Nation's WTO Entry Agreed
The final timetable for China's long-awaited entry to the World Trade Organization has been completed.
Vice-minister of Foreign Trade and Economic Co-operation Long Yongtu Friday revealed that accession would be approved at the meeting in Doha, Qatar.
"China's head delegate will sign all the related WTO documents on November 11 during the organization's fourth Ministerial Conference in Qatar from November 9 to 13,'' Long told an international forum in Beijing.
"Before signing, the participants in the forthcoming conference will discuss and approve China's entry on November 10.''
Long made the remarks during a two-day International Forum for Small and Medium-sized Enterprises (SME) Development sponsored by the State Economic and Trade Commission (SETC) and China International Centre for Economic and Technical Exchanges.
Long stated that all SMEs in China must observe laws with greater stringency from now on.
"China's entry into the WTO will bring more changes to the State and the most important one is that we will improve the transparency of laws and shape laws in accordance with WTO rules,'' Long said.
All SMEs in China face the changes as equal market players and should act strictly in line with related laws and WTO rules, Long stressed.
He also reaffirmed China's commitment to making public the drafts of new economic laws before the final versions are enacted.
"We will allow time for market players to discuss the drafts and put across their proposals during the law-making process,'' Long said.
At Friday's opening ceremony of the forum, Jiang Qiangui, SETC's vice-minister, said China's SMEs faced the pressing task of further reform upon the State's WTO accession.
"Though the State has achieved great accomplishments in reforming its enterprises, the situation is still critical for China's enterprises as the nation is within days of finishing its watershed WTO accession,'' Jiang said.
Jiang urged SMEs to step up their efforts in reforming pay and premiums, protecting the interests of small and medium shareholders and improving internal systems of rewards.
Jiang also revealed the National People's Congress is considering legislating a law to promote the development of the State's SMEs and it is likely to be approved at the beginning of next year.
Official statistics showed that out of all the enterprises in China, 99 per cent are SMEs.
"SMEs have become a major contributor to the nation's economy and 75 per cent of new jobs in recent years have been provided by them,'' Sun Yongfu, director-general of the China International Centre for Economic and Technical Exchanges, said.
But a shortage of finance and incomplete development policies are major obstacles to further progress, Sun said.
To find final solutions for the development of SMEs development, the government started a project with the United Nations Development Programme in 1997 with US$879,000 of aid.
Zhenjiang, in East China's Jiangsu Province, was chosen as the project's pilot city. It has set up a credit guarantee centre for SMEs to gain more capital -- the first of its kind in China.
In addition, a service centre has been founded in Zhenjiang to facilitate the expansion of SMEs.
Source: China Daily
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