The U.S. economy has benefited significantly from China's WTO accession(3)

The U.S. economy has benefited significantly from China's WTO accession(3)

Other data show that "Made in China" has long become an indispensable part of American families' daily lives. Chinese products can save every family in the United States an average of US$850 per year, significantly reducing the cost of living for American families.

The U.S. has benefited significantly from China’s accession to the WTO, which is also reflected in China’s persistence in opening up its market and continuously improving the business environment, injecting greater confidence into U.S. companies in China. A survey released by the American Chamber of Commerce in Shanghai in September showed that in the context of Sino-US economic and trade frictions and the new crown epidemic, US companies still have full confidence in investing in China. Of the 338 American companies interviewed in China, nearly 60% have increased their investment in China in the past year, and more than 80% are expected to achieve revenue growth this year.

A report issued by the US-China Business Council in September concluded that China’s accession to the WTO is positive for the United States and the world. According to the report, China has continued to open up its market in recent years, especially in areas such as financial services. At the same time, China has strengthened the protection of intellectual property rights, improved foreign investment approval procedures, and promoted reforms in other areas to provide a better business environment for foreign companies, including U.S. companies.