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In line with the nation's long-term opening up policy, China will further develop its economic co-operation across the board in 2004, according to Commerce Vice-Minister Yu Guangzhou.
Yu made the remark Sunday while speaking at the Ministry of Commerce's annual meeting.
China's bilateral economic ties with major trading partners continued to expand this year. Foreign trade volumes with the United States, European Union and Japan all passed US$100 billion this year.
Negotiations between China and members of the Association of Southeast Asian Nations is also progressing well, paving the way for a free trade area by 2010.
The Closer Economic Partnership Arrangement was signed between the Chinese mainland with Hong Kong and Macao. They are set to start on Thursday.
Yu also confirmed China will continue to participate in the new round of World Trade Organization (WTO) negotiations, supporting the world trading bloc's bid to finish its Doha Development Agenda as soon as possible.
Yu's endorsement comes as the WTO is trying to persuade its members to go back to the table, in the wake of the failed Cancun meeting, in Mexico.
A fortnight ago, WTO chief Supachai Panitchpakdi said progress had been made since the Cancun discussions about three months earlier. He urged member economies to move from demonstrating a willingness to re-engage to taking concrete action.
As one of the bloc's newest members, China values the opportunity to participate in the new round of talks, Yu said.
He also said China will continue to adhere to its WTO commitments next year.
But in face of the rising trade friction following China's WTO entry, Yu said the nation must establish and improve the mechanism used to respond to trade disputes.
"Active response is necessary to fight against the rising number anti-dumping cases, technical barriers and safeguard measures," he said.
The three-day conference, which started on Saturday, is the first large-scale meeting by the ministry since it was set up in March. It will become an annual event.
The ministry was created in March, combining the former Ministry of Foreign Trade and Economic Co-operation, parts of the functions of the State Economic and Trade Commission and the State Development Planning Commission.
By incorporating the internal and foreign trade administrations of the different government departments, the move is designed to streamline the management of the trade industry.
As a result, improving the domestic market system will become another key job for the ministry in 2004, according to Yu.
"Regional protectionism and industrial monopolies will be targeted to try and facilitate a unified and open market," he said.
(China Daily December 29, 2003)
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