Thursday, December 23, 2004

Three sectors worried Chinese government

A top trade official disclosed the obstacle of China's WTO comittment is local government protectionism, which may partly explain the reason for Chinese government to change the way to get the statistic.

Sun Zhenyu, the mainland's first ambassador to the World Trade Organisation, said local governments, as a whole, had been unable to fully understand the importance of abiding by WTO rules, according to SCMP.

Separately,the central government announced that the responsible authority to release the statistic of GDP will change from provincial goverment to the central statistic department. several days ago. The annoucement said that the central government will especially focus on the index of investment, agriculture and price.

Coincidentally, in the speech given by Sun Zhenyu, " Mr Sun's concerns had focused on the potentially harmful effects on sectors such as banking, insurance and agriculture", quote from SCMP.

It is not hard to imagine what will be the hot topic in mainland China in the next few years.

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