Ending non-tariff barriers 'can lift global trade and growth'

Reducing non-tariff trade barriers may increase China's economic output by 2 to 3 percent, a report indicates, promoting the country's transformation to a consumption-based economy.

The establishment of the Shanghai free trade zone is likely to ease concerns over market access, which is identified as one of the major non-tariff obstacles, experts said.

Eliminating supply chain hurdles can expand trade by 15 percent, according to a study by the World Economic Forum, in collaboration with consultancy Bain & Co and the World Bank.