ABSTRACT

China is today an essential, and new, factor in the world trading system. In 1993 China’s total merchandise trade (imports plus exports) reached US$196 billion, with US$104 billion-worth of imports and US$92 billion of exports (2.3 per cent of overall import merchandise trade). In the year 2000 China’s role in world trade is bound to strengthen considerably in response to broader trade policy reforms, as the country moves towards a more market-oriented economy. China has made bold commitments to improve its trade and investment climate. In addition to embracing many international principles, China is now well on the way to establishing a world-class legal structure for copyrighted works and patented products. China’s longstanding application of 10 July 1986 to rejoin the GATT appears today to be making rapid headway – a development that may be linked to the conclusion on 15 December 1993 of the ‘Uruguay Round’ and to the proposed creation of a new world trade institution.