The World Trade Organization came into being in 1995. It is the successor to the General Agreement on Tariffs and Trade (GATT) established in the wake of the Second World War. China is one of the founding members of the General Agreement on Trade and Tariffs (GATT), which was taken place by the World Trade Organization (WTO). Now, as the world's 10th largest trading country, China has every reason to enter the world trade body.