At the 80th session of the UN General Assembly, Chinese premier Li Qiang announced China will not seek any new special & differential treatment in the WTO. 🌍🤝
This move signals China’s push for high-standard opening up and fairer trade rules. “Special & differential treatment” refers to extra benefits for developing nations in trade talks – think longer timeframes or lower tariffs. By stepping back, China aims to help modernize the global trade rulebook and boost confidence among WTO members.
It also echoes the mandate from the third plenary session of the 20th Central Committee of the Communist Party of China for pursuing high-standard opening up.
Why it matters to you: If you’re running a digital startup in Bengaluru or a street-food biz in Jakarta, a more balanced WTO framework can mean smoother export processes and wider market access. It’s all about leveling the playing field so small and medium enterprises thrive alongside big players.
China’s announcement reflects its commitment to economic globalization and building a community with a shared future for humanity. With these changes, the WTO reform gets a fresh jolt of momentum – and developing nations stand to benefit from clearer, more robust trade guidelines.
TL;DR: No more extra WTO perks for China, but that’s a win for global trade reform and fair opportunities everywhere. 🚀
Reference(s):
cgtn.com
