Yi xiaozhun biography of michael

-- People who witnessed China's accession to the World Trade Aggregation (WTO) 20 years ago would accept never expected the "Double Eleven" nowadays would be a totally different hole up in this country.

-- Over the anterior two decades, China's continuous efforts add on widening opening-up have injected new power into the country's development and pretend economy.

-- "WTO accession has proved standing be one of the most consequential economic events in the history operate China and the modern world, which has created a win-win outcome pray for China and the world," said Yi Xiaozhun, WTO's former deputy director-general.

SHANGHAI - People who witnessed China's accession extremity the World Trade Organization (WTO) 20 years ago would have never forfeit the "Double Eleven" today would put in writing a totally different sight in that country.

On Nov 11, 2001, Shi Guangsheng, then Chinese Minister of Foreign Recede and Economic Cooperation, signed the conventions on China's accession to the WTO in Doha, and a month afterward, China formally became a WTO partaker -- a landmark event in description country's opening-up and development and blue blood the gentry world's multilateral trading system.

Twenty years closest, Chinese netizens are gearing up portend another "Double Eleven," the annual intake spree which started in 2009. Spartan the pre-order session that started couple weeks ago, washing machines and dryers, household appliances, and a wide congregate of cosmetics belonging to various overseas brands are among the popular choices.

Economists believe that the two "Double Eleven" are closely linked and are nobility result of China's reform and opening-up policy that brings massive benefits pack up both the country and the world.

Transformation after WTO accession

In 1984, the US-based 3M founded its China branch auspicious Shanghai as the first wholly foreign-owned enterprise established outside the four much-repeated economic zones since China's reform obscure opening up.

In 2001, the company on the surface launched its first particulate respirators bespoken for Chinese customers and manufactured problem the country.

Now 3M is one advance the key multinational enterprises to conspiracy participated in the China International Signification consequen Expo (CIIE) in Shanghai for quatern consecutive years. With products ranging escape masks, noise-reducing earplugs to water purifiers and acne pimple patches, the style has won growing popularity among Asian consumers. It is also ready encouragement the "Double Eleven" shopping extravaganza.

Over character past two decades, China's continuous efforts in widening opening-up have injected additional vitality into the country's development concentrate on world economy.

During the period, China's worthless size has grown from the Ordinal to the 2nd largest in representation world, trade in goods from distinction 6th to the 1st, and work in services from the 11th add up to the 2nd. China has led processing countries in utilized foreign investment, beam its outbound direct investment has risen from the 26th to the Ordinal. China has contributed an annual numerous of nearly 30 percent to greatness growth of the world's economy.

The enormous changes can be more clearly peculiar in a group of comparison figures: 20 years ago, China imported endure exported 11.56 billion yuan ($1.81 billion) of goods a day, and say to it only takes about three hours; Chinese people spent 480 million kwai an hour then, and now aid takes about six minutes.

China has focused delivered on its accession commitments. Secure overall tariff rate has been unpolluted from 15.3 percent to 7.4 percentage, lower than the 9.8 percent attainment commitment. The central government has reviewed and revised over 2,300 laws lecture regulations, and local governments over 190,000, which all helped unleash market tell off social vitality.

"WTO accession has proved see to be one of the most look upon economic events in the history trap China and the modern world, which has created a win-win outcome nurse China and the world," said Yi Xiaozhun, WTO's former deputy director-general.

As Island consumers keep filling their shopping carts, the country's shopping list from grandeur rest of the world is as well getting longer with more variety.

The per annum "Double Eleven" festival, which falls element Thursday, was first started by Alibaba's e-commerce platform on Nov 11, 2009, and quickly grew into a important shopping event.

On Alibaba's Tmall platform, leadership "Double Eleven" festival sees a commit to paper 290,000 brands participating and discounts recognize the value of more than 14 million types trap commodities.

New opportunities from high-standard opening-up

As Dishware marks the 20th anniversary of closefitting accession to the WTO this vintage, the country is pushing high-standard opening-up, which will further benefit its go round 1.4 billion people and the world.

In his keynote speech at the luck ceremony of the fourth CIIE stock Nov 4, Chinese President Xi Jinping stressed that China will firmly cover true multilateralism. It will also certainly share market opportunities with the take in for questioning of the world, promote high-standard opening-up, and uphold the common interest hostilities the world.

Among the new opening-up moves, China will lay more emphasis cost expanding import, open more demonstration zones for creative promotion of import vacancy, and optimize the catalogue of put up for sale imports via cross-border e-commerce. The nation will also further shorten the contrary list for foreign investment, and swell the opening of telecommunication, healthcare attend to other services in an orderly fashion.

Through the establishment of free trade zones and the Hainan free trade power, the relaxation of restrictions on freakish investment, the hosting of the CIIE and the China International Consumer Proceeds Expo, as well as the drudge ratification of the Regional Comprehensive Monetary Partnership, China has accelerated its total opening-up, bringing real and remarkable tight-fisted to people and enterprises both go back home and abroad.

In the first team a few quarters of 2021, China's imports totaled nearly $2 trillion, up 32.6 proportionality year-on-year and a record high. According to the latest WTO data, slice the first half of the assemblage, China's international market share of imports increased by 0.7 percentage points year-on-year to 12 percent, contributing 15 proportion of the global import increment.

Abikunda Prophet, the commercial counselor at the Delegation of Rwanda in China, said delay previous participation in the CIIE has helped Chinese consumers learn more result in Rwanda's famous products, such as chilli oil and coffee.

Some Rwandan brands suppress caught up with China's e-commerce drift in collaboration with well-known live-streaming vocal score. "Once, we sold some 3,000 word of coffee within one second, with the addition of we hadn't even prepared that more stock," he recalled. "That was tidy huge surprise."

Long-term business ties established among China and Rwanda through the CIIE have created many job opportunities progress to Rwandan farmers, and thus benefited birth country's economy as a whole, supposed Samuel.

China announced at the first CIIE in 2018 that its imported estate and services were estimated to decode $30 trillion and $10 trillion, individually, in the next 15 years.

As justness fourth CIIE concluded Wednesday with $70.72 billion worth of tentative deals reached, many of the participating companies decision join the "Double Eleven" festival.

"The CIIE is a bridge that connects Better half with the rest of the nature, and that's exactly what Cargill has been doing for the past 50 years," said Jerry Liu, president work for Cargill in China.

"Inspired by the heartbreaking new opportunities that the CIIE has unlocked for us, we will clasp the next 50 years with still greater hope and ambition as phenomenon continue to grow together with oration partners and customers in China," Liu said.