Research Report, Issue No. 56, 2021. EU’s Course of Developing Generalized Scheme of Preferences and Its Enlightenment for China
Generalized System of Preferences (GSP) is an important pillar of WTO rules, under which developed countries offer general, non-discriminatory and non-reciprocal preferential tariff treatment to products originating in developing countries and regions to boost their economic development. The EU is the first economic entity to adopt GSP, through which almost all developing countries and regions, including China, received the EU’s preferential assistance. In the last 50 years of developing GSP, the EU continuously revised and adjusted the scheme catering to changes in its internal conditions and external situations, offering a model for preference-giving countries. Learning the course of EU developing its GSP and its latest trend will benefit China’s understanding of the EU’s overall foreign strategy and China’s high-quality development of foreign trade.