China in the multilateral trading system and the future of the WTO

As the world’s most important multilateral trade system, the WTO has established a global trade rules value system. At present, the WTO membership covers 98% of global economic and trade activities, which fully reflects its importance to global economic and trade relations. China's accession to the WTO does not only mean that China can openly export goods to other WTO member countries, but also means that China is economically more open. For the entire economy, the open market has brought many favorable factors to the development of the Chinese economy, regulating the market economic order, reducing nominal tariffs, abolishing preferential policies, implementing national treatment, and strengthening policy transparency. With the current rise in trade protectionism, China should actively maintain and steadily promote trade liberalization, and preserve its dominant role in the WTO. Additionally, China should rely on the WTO to maintain the stability of the world trade environment, and strive to steadily advance liberalization under the WTO framework.