China is willing to work with other parties to enhance the effectiveness of the World Trade Organization, State Councilor and Foreign Minister Wang Yi said in a news conference on Sunday.

This year marks the 20th anniversary of China joining the WTO, and the event was a milestone in China's opening-up, as well as in the process of economic globalization.

Wang said the past two decades have taught China four important lessons: We must stay committed to the fundamental policy of opening-up; we must stay committed to the principle of win-win cooperation; we must stay committed to the right direction of economic globalization; and we must stay committed to the central role of the WTO.

"China has injected energy into economic globalization, and facilitated the optimization of global industry chains and resources," he said.

Facing new problems and challenges in globalization, the answer is not to retreat into protectionism, isolation or decoupling, but to work together to make globalization more open, inclusive, balanced and beneficial for all, he said.