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China refutes US denying contributions to global trade

TOKYO, Feb 26 (KUNA) -- China, Monday, opposed a United States report denying its contributions to the multilateral trading system and global economy after assenting to the rules of the World Trade Organization (WTO) more than two decades ago, Xinhua News Agency reported.
The Chinese Ministry of Commerce said in a statement that China, as the largest developing WTO member, has always supported the multilateral trading system, practiced multilateralism, and fulfilled its WTO commitments.
China "has continuously improved its market economy institutions and legal systems based on its national conditions, expanded high-level institutional opening-up, fully and deeply participated in the reform of the WTO, and actively helped other developing members, in particular the least developed countries, integrate into the multilateral trading system," added the ministry.
On February 23, the Office of the US Trade Representative (USTR) released its 2023 Report to Congress on China's WTO compliance, which details the Biden-Harris Administration's assessment of China's membership in the WTO, according to the USTR official Website. "China remains the biggest challenge to the international trading system established by the WTO," USTR Ambassador Katherine Tai stated.
"It has been 22 years since China acceded to the WTO, and China still embraces a state-directed, non-market approach to the economy and trade, which runs counter to the norms and principles embodied by the WTO." (end) mk.za