Top 10 business events in 2006
By Dai Yan (chinadaily.com.cn)Updated: 2007-01-09 15:07
China had been a WTO member for five years as of October 11, 2006 and had
accomplished some remarkable achievements. During the past five years, China
fulfilled its WTO commitments and adjusted its foreign trade policy in line with
WTO rules. The country's average tariff level decreased from 15.3 percent in
2001 to 9.9 percent in 2005. According to statistics by the World Bank, China's
economic growth contributed an average of 13 percent annually to the world
economy.
The European Union (EU) began anti-dumping investigations on Chinese shoemakers. The EU imposed temporary anti-dumping tariffs ranging from 4.8 percent to 19.4 percent on Chinese-made shoes starting April 7, 2006. The EU raised the tax rate to 9.7 percent from June 2 and 14.5 percent from July 14. Finally, the EU decided on October 6 to levy a two-year-term duty of 16.5 percent on Chinese shoemakers.
The Ministry of Commerce set down commercial tasks and
goals for the 11th Five-Year Program (2006-10). By the end of 2010, China will
see a unified and open domestic market, a new foreign trade increase pattern and
a highly efficient governmental work mechanism.
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