July 19, 2024 — Chinese officials recently announced the country will cancel subsidies to a number of distant-water fishing companies that do not meet standards set by the 2022 World Trade Organization (WTO) Agreement on Fishery Subsidies.
China formally accepted the agreement in June of 2023. According to the WTO, it is one of 52 countries that have signed onto the deal; two-thirds of WTO member countries, or 110 in total, need to sign in order for the deal to enter into force.