Now he faces a tough battle to steer the agreement through a Republican-led Congress deeply suspicious of China. After six days of grueling talks - and critical intervention by Premier Zhu Rongji - the final document was signed by US Trade Representative Charlene Barshefsky and Chinese trade minister Shi Guangsheng.

Shi hailed what he called a "win-win" agreement and said he hoped China could join the WTO this year, a goal that has eluded Beijing for 13 years. "If there's a will there's a way," state radio quoted President Jiang Zemin as telling Barshefsky after the signing of an agreement that offers a badly needed boost to fragileChina-US relations. WTO-driven liberalisation will constitute China's most radical reform since then paramount leader Deng Xiaoping launched his "open door" economic policies in 1978.

Negotiators raced the clock to hammer out a deal to secure China's entry before a November 30 deadline, when ministers of the WTO's 134 members meet in Seattle to launch a new trade round. Although China still needs separate agreements with the European Union and other key trading partners - and significant differences remain to be bridged in those talks - diplomats in Beijing said they were confident others would fall into line behind the Americans fairly quickly.

According to WTO rules, the US Congress must grant Beijing permanent "Normal Trade Relations" before Washington can gain the benefits of China's more open markets within the WTO. Clinton pledged an all-out effort to secure congressional support.

"Today China embraces principles of economic openness, innovation and competition that will bolster China's economicreforms and advance the rule of law," he said during a visit to Turkey. The agreement appeared to offer many of the generous concessions Zhu took to Washington in April but rejected as inadequate by Clinton, a move the United States President came to recognise as a grave blunder.

The United States said China agreed to reduce average import duties to 17 per cent from 22.1 per cent after WTO entry. Export subsidies will be eliminated and tariffs on farm goods and automobiles and auto parts will come down. China will allow 49 per cent foreign ownership in telcommunications firms immediately, rising to 50 per cent after two years, Barshefsky said. She said investment would be allowed in the booming Internet industry, including online content providersToo early to celebrate-- US cos
ĪBEIJING: US companies welcomed the deal, although some said it was too early to celebrate and they first needed to examine the fine print. "Getting China into the WTO is a fantastic step for everybody.

It's a WTO pactand that is moving in the right direction," said Peter Alexander, chief representative for US insurance company Nationwide Global Holdings Ltd. "But let's see what it means for everybody. I think we'll have to wait and see how it's going to be implemented," he added.

WTO membership will force fundamental changes to China's state-run economy by introducing fiercer competition from abroad. But it will also run the risk of rising social turmoil as indebted state factories go to the wall, throwing millions out of work. If the deal can be steered through the US Congress, it would be a major victory for Clinton, who was eager for a trade pact with China to help secure his legacy.