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6 J. WTO & China 1 (2016)

handle is hein.journals/jwtoch6 and id is 1 raw text is: PREFACE Since its entry into the WTO family in December, 2001, China has joined other members in building the multilateral trading system through consultations to meet the interests of all. China has benefited from the system: its total foreign trade value has increased by 6.8 times, or an average an- nual growth rate of 16%, and its GDP by 5.1 times, or 14% annually China has become the world' s second largest economy, with its industries being elevated to a higher range in the Global Value Chains. China' s open development has benefited the world as well. From 2001 to 2014, global trade expanded by 2.1 times in dollar value, or an annual average growth rate of 9%. China' s develop- ment has particularly contributed to the recovery of the world economy after the 2008 global finan- cial crisis. With deepened reform and opening up, China has become the biggest nation of trade in goods and a major overseas investor. China is proud to become the biggest trading partner of over 120 economies, and accounts for more than 10% of world imports, creating some 20 million jobs globally At the 10th WTO Ministerial Conference held in Nairobi in December, 2015, WTO Members reached a consensus on some Doha issues, such as agricultural export competition and the least de- veloped countries, and promised to eliminate export subsidy entitlements of agricultural products. Members also concluded the agreement on ITA tariff concessions, their first expansion deal in al- most 18 years. However, the disagreement between developed members, including the US and EU, and developing members on the future of the Doha Round Negotiations became clearer. As an active participant, builder and contributor to the multilateral trading system, China has a long way to go in upholding the system and fulfilling its due obligations as a major trading nation. We need to further explore with other stakeholders on how to stick to the Doha mandate and its framework in the interest of development, while better addressing those new, forward-looking is- sues such as investment, e-commerce and SMEs through coherent and concerted efforts. We look forward to strengthening coordination and communication, bilaterally and multilaterally, on the in- ternational forums, such as G20 and APEC, and continue to play a leading role in the multilateral system, which remains the mainstream of the global trade regime. The best time of the year is Spring. And the finest time of the day is morning. In the begin- ning of the New Year, I hope this new edition of the Journal of WTO and China will further pro- mote exchange and cooperation among experts, both at home and abroad, and will bring new vigor to the arena of research and practical work on the multilateral trading system. Chen Deming

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