China’s accession to the WTO was a turning point in world economy. A relatively closed economy of the eighties and nineties was promised to be an open one in early 21st century by formally joining the WTO in 2001. The political and economic course that China followed soon after in terms of openness and reforms began to question the purpose, motive and intent of the Central leadership. Is China really open today? Has it fulfilled all its WTO commitments to become one of the most open economies in the world? Such questions are currently raising doubts among scholars, researchers and corporates as to how China will behave in the foreseeable future and, what world economy can expect.