China strictly honors WTO entry commitments   2002-09-10 09:53:58 China says it will strictly honor commitments to open its market and create favorable conditions for overseas goods to enter China. Chinese Minister of Foreign Trade and Economic Cooperation, Shi Guangsheng, made the remarks at the ongoing International Investment Fair in Beijing on Sunday. According to the minister, since the beginning of this year, China has significantly lowered import duties on more than 5,000 commodities. The overall tariff level has dropped from the previous 15.3 percent to the current 12 percent. The duties on some technology products have dropped to zero and quotas, licensing and the designated bidding procedures involving some products have also been abolished. China has reviewed a total of 2,300 regulations and laws, some 830 of which have been revoked. Some 325 others have been revised. This has helped to open up more sectors to overseas investors, strengthening the protection of intellectual property rights as well as the handling of multilateral trade disputes according to WTO rules. These changes will also help to provide intensive training for corporate personnel. At present, Shi says that China will focus on improving the soft environment for overseas investment as well as further strengthening its comprehensive competitiveness. He says this will help to bring about a better environment for overseas investors in China.