Source: Shanghai Daily

By Mei Xinyu, senior researcher, Ministry of Commerce

FIVE years have passed since China joined the World Trade Organization in 2001.

It's time to assess the country's "balance sheet" - How China has benefited from the membership and what challenges lie ahead.

The benefits are huge. You know it when you look at the rapid growth in exports, inflow of foreign direct investment and foreign exchange reserves over the years.

Indeed, the initial worries in 2001 about a foreign "crush" on Chinese industries in the wake of market opening have proven largely illusory.

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Posted by pichu at December 12, 2006 1:22 PM