WTO has helped China to expand its market, accelerate restructuring its industry and improve its legal system.
international trade in 2004 has exceeded one trillion US dollars, making China third worldwide.
Foreign investment reached 53.51 billion US dollars last year and is expected to exceed 60 billion this year.
revised more than 2,500 laws and regulations
To minimize the effect of foreign competitors -
auto industry has import quota on autos until 2005.
Some sectors such as telecommunication, distribution and banking services have up to six years of gradual transition.
By the end of 2003, 25 foreign retailers, including Wal-Mart, B&Q, Auchan and Lotus, had been granted business licenses. With a total investment of 1.54 billion US dollars, retailing turnover of these suppliers that year reached 1.3 billion US dollars, a 17 percent increase year-on-year.
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