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Opening up will not hurt China's economic safety as long as it is guided by the government and regulated by laws, said China's ex-chief representative in its World Trade Organization (WTO) talks on Sunday.

Long Yongtu, secretary general of the Boao Forum for Asia and former top negotiator who led China into the WTO in 2001 after 15 years of talks. [newsphoto]

Joining the WTO is not an end to China's opening up but a new opportunity, which calls for continuous updating of ideas, said Long Yongtu, secretary general of the Boao Forum for Asia and former top negotiator who led China into the WTO in 2001 after 15 years of talks.

As China gradually opens up, concerns about the country's economic and industrial safety are very necessary, said Long.

However, "As long as we have all necessary laws and strong government regulation, we should not be afraid of opening up," said Long. "The more the country opens up, the safer and more advanced we will be."

Foreign capital and enterprises can enter China but must follow the Chinese laws and regulations, said Long.

China joined the WTO on December 11 in 2001. Under its commitment to the organization, the country will fully open its banking sector from Monday.

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