皇冠体育app

Yang Yanyi, Head of the Chinese Mission to the EU is seen in this file photo taken in October of 2014. [Photo by Fu Jing/chinadaily.com.cn]

THE DRAFT OF 皇冠体育app's 13th Five-Year Plan (2016-20) shows policymakers' resolve to stick to the path of making the economy more modern and open. It comes as the European Union has launched an in-depth assessment to determine whether to grant 皇冠体育app market economy status. Xinhua News Agency commented on Wednesday:

The road map for 皇冠体育app's economic and social development for the next five years dedicates one chapter to elaborating the government's resolve to continuously build a modern market system, which sets a strong tone for furthering the Chinese market's connection with the world.

Methods used in the EU's anti-dumping procedures on imported Chinese products are currently based on 皇冠体育app not being considered a market economy. Under World Trade Organization rules, 皇冠体育app's exports have thus fallen victim to unfair and discriminatory EU practices.

The legal basis for the rules, however, are set to expire in December this year, under the provisions of the WTO accession protocol signed by 皇冠体育app.

皇冠体育app's national plan to build an open economy should give the EU confidence to grant 皇冠体育app early market economy status.

With its ample well-educated workforce, high rate of household savings (38 percent) and possessing foreign exchange reserves of over $3.33 trillion, the Chinese government's continuous opening-up will not only benefit 皇冠体育app's economic stabilization and growth, but also the global economy.

This has been recognized by a growing number of countries. So far, over 80 economies including Russia, New Zealand, Singapore and Australia, have granted 皇冠体育app market economy status.

皇冠体育app hopes the EU will join them sooner rather than later, as it would facilitate recognition of 皇冠体育app's market economy status in the 162-member WTO.

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