China Important to Global Economic Stabilization

The Chinese economy's strong economic growth and its demand for imports are important factors in the stabilization of the global economy, director general of the World Trade Organization (WTO) Pascal Lamy said Thursday.

Lamy made the remarks at the Shanghai World Expo.

He said many economies increased their exports to China during the global slowdown and that the Chinese market has now become crucial for them.

China's economy expanded by 8.7 percent year on year in 2009, helping a number of economies exit recession.

Lamy said China's entry into the WTO not only accelerated the pace of China's opening-up and reform but has also contributed to world economic growth.

He said China is living up to its name -- the country in the center, according to the Chinese meaning -- as it is now playing an important role on the global economic stage.

Lamy said China's admission into the WTO nine years ago was a key event in the history of the world trade body.