China's WTO Updates
Milestones on China's Long March to WTO Entry

World Trade Organization members agreed on the terms for China's entry to the body on Saturday, bringing the country to the verge of admission after 15 years of negotiations.

The working party on China's accession will formally approve the package on Monday at WTO headquarters in Geneva, clearing the way for entry by the end of this year.

Following are key events related to China's long march to membership of the global trade watchdog.

1948 - China is one of the 23 founding members of the WTO's predecessor, the General Agreement on Tariffs and Trade (GATT).

1950 - One year after the 1949 founding of the People's Republic of China, China pulls out of GATT.

1986 - China applies to join GATT.

January 1, 1995 - WTO replaces GATT.

November 1995 - China unveils its biggest trade liberalisation package in 16 years. It plans to slash import tariffs by 30 percent and allow joint venture companies to be set up.

October 1997 - China slashes import duties to 17 percent from 23 percent, but maintains "peak tariffs" on other goods such as automobiles.

March 4, 1999 - US Trade Representative Charlene Barshefsky holds talks with Chinese officials and leaves Beijing saying "significant gaps" remain on farm trade and services.

April 8 - President Bill Clinton and Zhu sign a joint statement in Washington welcoming substantial progress and committing them to completion of a WTO deal by the end of the year. The gap is closed on about 90 percent of WTO issues.

May 7 - NATO bombs Chinese embassy in Belgrade. China freezes WTO negotiations.

September 11 - Clinton and Chinese President Jiang Zemin agree on sidelines of Asia-Pacific Economic Cooperation (APEC) forum in New Zealand to resume WTO negotiations. Barshefsky holds talks with her Chinese counterpart, but no progress is reported.

November 8 - Clinton sends Barshefsky and a key White House aide to China to try to hammer out an agreement.

November 11 - US says no progress is made. "We are discouraged that progress has not been made at this point. The clock has nearly run out," Barshefsky says.

November 13 - Zhu holds meeting with Barshefsky.

November 15 - US, China announce WTO pact. China agrees to open wide range of markets, from agriculture to telecommunications. Clinton must persuade the US Congress to grant China permanent normal trade relations (PNTR).

May 19, 2000 - EU signs WTO accession pact with China.

October 10 - Clinton signs PNTR bill into law after approval by House of Representatives and Senate.

January 2001 - Further multilateral talks end in acrimony as China and some WTO members disagree on farm subsidies.

June 9 - China and the United States announce consensus on issues holding up China's entry, including farm subsidies, after meetings on the sidelines of an APEC trade ministers' meeting.

June 20 - EU says it has resolved outstanding bilateral issues with China over its accession.

July 3 - China's chief trade negotiator, Long Yongtu, says "all major issues" have been resolved in talks with WTO members.

Sept 14 - WTO members agree on terms for China's entry at an informal meeting, clearing the way for the nation to join by the end of the year.

(China Daily September 16, 2001)

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