China's WTO entry to challenge both govt, enterprises: Shi

HONG KONG (AFX-ASIA) - Minister of Foreign Trade and Economic Cooperation Shi Guangsheng said China's forthcoming accession to the World Trade Organization will bring about challenges to both the Chinese government and domestic enterprises, the official Xinhua news agency reported from Beijing. First, the Chinese government will have to change its way of administration as the WTO is based on rules and regulations, Xinhua quoted him as saying. WTO follows a number of principles, including the most-favored-nation principle, the national treatment principle, the market access principle, the fair competition principle and the transparency principle, the minister said. Second, it is a significant challenge to Chinese enterprises which used to compete with their domestic counterparts, he said. After China's accession to the WTO, they will face competition from both domestic and foreign enterprises on an equal footing, he said. Thirdly, China's entry into the WTO will also bring about ideological challenges to the Chinese, he noted. "People will have to do their work and business and conduct other activities according to rules and laws," he said.

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