Chinese Vice Premier Urges Return to Rules-Based Trade Order

Summary

Chinese Vice Premier He Lifeng spoke at the World Economic Forum in Davos on the state of global trade, warning that the multilateral trading system faces its most serious challenge in years. He blamed unilateral acts and trade deals by certain countries for violating WTO rules and harming the global economic and trade order. He reaffirmed China's support for the WTO-centered rules-based system, pledged China would not seek new special and differential treatment, and backed reforms of the WTO and IMF with greater Global South representation.

• He Lifeng warned the multilateral trading system faces its most serious challenge in years.
• He said unilateral acts and trade deals by certain countries violate WTO principles and disrupt global trade.
• China pledged it will not seek new special and differential treatment in current or future WTO negotiations.
• China voiced firm support for reform of the WTO and IMF to enhance authority and inclusiveness.
• He called for greater representation of the Global South and developing countries in multilateral institutions.
• China welcomed mutually beneficial trade agreements provided they comply with WTO rules and do not harm third parties.