China vows to accelerate its “new development model” at the WTO

China promised before the World Trade Organization (WTO) to accelerate its “new development model”Relying on domestic demand, while further expanding its vast international market.

Beijing made such a promise on the occasion of the review of China’s trade practices in the OMC, an exercise that all members of this organization undergo at regular intervals. but that is done behind closed doors.

In a report published on this occasion, released by the WTO, China points out that it seeks “further accelerate the efforts made to promote a new development model, the key element of which is internal circulation ”.

“The new development model is not a closed-door development cycle. By taking advantage of the potential of domestic demand to the maximum, this will serve to improve the links of national and international markets, thus allowing a better exploration of markets and resources at the national and international level, ensuring a more sustainable and lasting development.”, explains this document.

Beijing indicates that it wants to “fully open up the possibilities offered by its huge market and considerable domestic demand from China, which has a population of 1.4 billion people“, with the objective of “turn the Chinese market into a market for the world, shared and accessible to all ”.

Regarding global warming, the document reaffirms Chinese commitments: carbon neutrality “between now and 2060”, and an emissions cap “by 2030 ″.

“As a developing country, China will continue to deepen South-South cooperation and contribute to poverty eradication, debt relief and economic growth in developing countries.”, The report also states.

Concluding: “there is only one Earth and one common future for humanity. China stands ready to join with other Members and move forward together with the flame of multilateralism lighting the way …”.