In November 2001, China finally gained membership to the World Trade Organization (WTO) after 15 years of efforts.

Shi Guangsheng, Minister of Foreign Trade and Economic Cooperation, said the WTO accession is a milestone event for China in its process of opening up, reform and modernization construction. The event has fully demonstrated the Chinese Government's unswerving resolution to deepen reform and expand opening up, as well as the country's positive attitude toward participating in economic globalization and integration with mainstream global economy.

Mike Moore, Director-General of the WTO, said at the conclusion of the last China Work Group meeting that China's WTO accession is an important moment in the history of the multilateral trade system. It is also a result of international economic cooperation. With China's accession, the WTO has made another step toward becoming a real global organization.

U.S. Assistant Trade Representative for China Jeffrey A. Bader said that China's WTO entry would benefit the economies of China, the United States and the entire world.

British-Chinese Trade Association Chairman Lord Powell commented that China's accession to the WTO would be the most important political and economic event in the world for a long period of time. He also said that China's overseas friends held great expectations for the country, believing its WTO membership would bring about huge opportunities to China and to the world.

The British newspaper Financial Times carried a commentary on November 19, saying that China's WTO entry is good news and will greatly benefit global economy. According to the commentary, the opening up of the trade gate to China¨Ca country with immense potential for economic growth¨Cat the crucial moment of global economic downturn will provide a stimulus to global economy.

Chinese Premier Zhu Rongji said, "We will fulfill our commitments, and we will further open up our domestic market, expand the scope of opening up, systematically push forward the opening up of the financial, insurance, telecommunications, trade, tourism and other service sectors, and search for new ways and methods for the utilization of foreign capital."