A World Trade Organization (WTO) ministerial meeting is held in Davos, Switzerland, attended by Chinese international trade negotiator and Vice Minister of Commerce Li Chenggang.
Li Chenggang stressed that the WTO's basic principles and rules ensure the stability and predictability of global trade and form the basis for the long-term development of the multilateral trading system. At a time of current international trade instability, the value of the WTO is becoming increasingly prominent.
He said WTO members should cooperate practically, support the multilateral trading system through reforms, maintain the organisation's effectiveness and authority, and strengthen its role in global economic governance.
Li Chenggang also recalled that China is a firm supporter and active participant in the multilateral trading system. China will participate in WTO reforms so that the results benefit all members, and is ready to contribute to addressing the current issues and needs of industries.
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