China supports reforms of the World Trade Organization (WTO) that honor the institution
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China supports reforms of the World Trade Organization () that honor the institution's rules but will not create a new organization, a spokesperson for the Ministry of Commerce said Thursday.
"The WTO is not perfect and facing challenges on its authority and effectiveness amid prevailing protectionism and unilateralism," spokesperson Gao Feng told a regular news conference, saying that reforms are necessary to help the multilateral trading system move with the times.
"Still, the multilateral , with the WTO as its epitome, has been indispensable in fighting protectionism, promoting trade and advancing ," he said.
Gao said the revamps must not change the basic rules of the WTO, nor should changes be made to reverse trade liberalization.
"Reforms must not lead to the creation of a new organization, and China opposes the act of imposing will on others by individual members of the WTO," Gao said. "Reforms should be based on mutual respect, equality and reciprocity, and priority should be given to addressing issues that threaten the existence of the WTO."
(Source: Xinhua)
