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World Trade Organization (WTO)
The World Trade Organization (WTO) is an intergovernmental organisation that regulates international trade. It was established in 1995 to replace the General Agreement on Tariffs and Trade (GATT). China joined the WTO on 11 December 2001 after 15 years of negotiations. China's accession required significant commitments to reduce tariffs, open markets to foreign goods and services, and protect intellectual property. Membership gave China access to global markets under the WTO's non-discrimination rules, contributing significantly to China's export-led growth in the 2000s.