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The World Trade Organization (WTO) commenced its 3rd review on China's trade policy at its headquarters, Geneva, on May 31. Vice Minister of Commerce Yi Xiaozhun, head of the Chinese delegation, and Sun Zhenyu, Chinese Ambassador and Permanent Representative to the WTO, were present at the review.
Vice Minister Yi made a briefing at the review on China's macro-economic environment, trade development, trade and economic policies as well as the outlook of China's opening-up in his keynote speech.
Mr. Yi said that China fully honored the commitments made when accessing to the WTO by further decreasing its tariff and unceasingly improving relevant policies and regulations on trade and investment. At present, China has complemented its commitment of tariff reduction, from 15.3% in 2002 down to 9.8% in 2010, which is the lowest tariff by developing countries.
In past two years, despite the negative impacts by the global economic crisis, China greatly increased its import by its package aiming to stimulate domestic demand, which created a great market for China's trading partners when the global demand was weak. Besides, China honored its commitments in G20 Summit and its WTO accession, without taking any new trade and investment protectionism measure against multilateral trade rules during the crisis. Moreover, the Chinese government organized 13 trade and investment promotion missions aiming at overseas purchase, cooperation and investment so as to help trading partners to settle the weak export, which gave a great boost to the recovery of the world economy.
Mr. Yi stated that the Chinese government shall adhere to the opening-up with mutual benefit and win-win outcome, further improve its opening-up and facilitation so as to create more open and optimized environment for foreign investors. Enterprises of other countries, together with Chinese enterprises, could share the greater market and development opportunities.
After Mr. Yi's keynote speech, members of the WTO began to make comments on China's trade policies. They spoke highly of China's economic development and its status in the world economic system and held a common view that China's economic development provided opportunities for the world and played a great role in coping with the global financial crisis.
On the same day, the WTO issued the Review on China's Trade Policy which analyzed China's economic environment, trade policy mechanism, relevant trade policies and measures in detail, and spoke highly of China's great achievements in economy and trade in last 2 years. Meanwhile, the Review also pointed out some issues to be solved in the field of trade and investment environment.
The 3rd Review on China's Trade Policy was held on May 31 and June 2 respectively. On June 2, the WTO members will discuss on trade and investment in China with the Chinese delegation. The WTO will take the trade policy review on its members periodically. The review on China's trade policy was made in 2006 and 2008 respectively.
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| 2204.2RS.TV bearing | 20 | 47 | 18 |
| 23940SK.MB bearing | 200 | 280 | 60 |