WTO reform needs to advance globalization: commerce minister

The reform of the World Trade Organization (WTO) needs to advance globalization, China's Commerce Minister Wang Wentao said Sunday at the 12th WTO Ministerial Conference in Geneva.

"The WTO needs to respond to the general trend of globalization, make the 'pie' bigger, and make economic globalization more open, inclusive, balanced and beneficial to all through updating rules and strengthening mechanism safeguard," Wang said.

The WTO reform needs to benefit all members and protect the legitimate rights and interests of developing members, he said.

Noting that the Chinese economy is still characterized by strong resilience, huge potentials and bright prospects, Wang said China is taking expeditious moves to build a new development paradigm and unswerving steps to advance high-standard opening-up, which will surely bring more opportunities for market access, growth and cooperation to the whole world.

China stands ready to work with all the other sides to firmly uphold the multilateral trading system, foster an open world economy, and build a community with a shared future for mankind, he said.