China's Ministry of Commerce, which was established in 2003, is one reason why China ranks #1 in the global economy. The Ministry of Commerce regulates the domestic market, attracts foreign investors, and helps Chinese businesses compete overseas. It also works to develop rural and urban markets across the country and issues licenses to foreigners. After the tainted pet food scandal of 2007, the Ministry of Commerce is concerned with having China synonymous with quality goods. The ministry also works with the World Trade Organization and the United Nations on behalf of the Chinese government.