China to continue upgrading foreign trade

Beijing, April 16 (IANS) China will continue to transform and upgrade its foreign trade in accordance with World Trade Organisation (WTO) rules, an official from the commerce ministry said.

The official made the statement after China and the US on Thursday signed an MOU in Geneva to resolve a case involving China’s foreign trade transformation and upgrading demonstration bases and common service platforms, Xinhua reported.

China has always followed WTO rules, and its WTO accession commitment, said the statement.

China will continue to promote the transformation and upgrading of foreign trade in accordance with WTO rules and achieve steady and healthy development in this regard, it said.

Close consultations have resolved misunderstandings about China’s demonstration bases and confirmed that the policy aims to encourage the transformation and upgrading of foreign trade, the statement said.

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