Abstract
Earlier china’s economy was neither connected nor approachable to the rest of the world. Now, China is becoming a Popular Foreign Investment Destination after taking the accession to the WTO as the turning point, China has ushered in a completely new phase for its opening-up and become a popular foreign investment destination. The formal ban on foreign direct investment in China was lifted in 1972. In December 2001, China finally became a formal member of the World Trade Organization (WTO) after nearly 14 years of talks and negotiation. With the accession, China is abiding the WTO’s basic principles of non-discrimination, pro-trade, pro-competition and so on. In return, China is enjoying the privileges enjoyed by WTO members. Now China is the favourite destination for foreign investment. It has opened its market for the rest of the world and provided various relaxations and tax holidays which are conducive for the economy and in return china’s economy is the second largest economy in the world.
Published Version
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