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World's second largest economy is open for business

CCTV.com

12-09-2016 19:35 BJT

China joined the World Trade Organization back in 2001.  Over the past 15 years it has cut its overall tariff levels from 15.3 percent to 9.8 percent.

China has streamlined regulations for foreign companies, reduced taxes, regulated the country's financial system, and improved foreign investment approval procedures.

The Chinese economy has opened considerably since the country joined the WTO.

The Chinese government has opened Three Free Trade Zones in Guangdong, Tianjin, and Fujian -- established the Asian Infrastructure Investment Bank -- and created the Silk Road Fund to further support international trade and investment.

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