President Hu Jintao delivers his keynote speech at the annual conference of 2004 Bo'ao Forum for Asia.
By Duan Ruolan
Express staff
President Hu Jintao said China's economy will generate
important opportunities for Asia in his keynote speech at the annual conference
of 2004 Bo'ao Forum for Asia, the only non-government international organization
in Asia that fosters economic co-operation in the Asia-Pacific region
on April 24.
Hu said, being the world's third largest importer and the second largest
economy in Asia, China has maintained a sustainable average annual economic
growth rate of 9.4 per cent over the past 25 years.
"we will quadruple the 2000 GDP to US$4 trillion with a per capita
GDP of US$3,000, and further develop the economy, improve democracy, advance
science and education, enrich culture, foster greater social harmony and
upgrade the texture of life for the people," said Hu.
According to Hu, in 2003 China has imported a total of US$272.9 billion
from Asian countries and regions, an increase of 42.2 per cent compared
with the previous year.
In recent years, China's direct investment in Asian countries and regions
has been kept an average annual growth of 20 per cent.
Hu said, as China's market scope and investment in foreign countries are
growing, more Chinese will conduct businesses and visit the rest of Asia
and "China's economy will integrate still more closely with the Asian
economy, giving rise to a new type of partnership characterized by mutual
benefits and mutual assistance."
However, Hu acknowledged many acute problems including overpopulation
and underdeveloped productivity.
More than 1,000 people from political and business circles and scholars
from 35 counties and regions attended the two-day third annual conference,
held on April 24-25, to discuss closer collaboration among Asian countries
and the rest of the world.
Long Yongtu, secretary-general of the forum said in the world manufacturing
chain, China is an important part yet is far away from a world factory
and it will be wise to call the country a workshop.
Currently, most the global's top 500 giants have set up factories in China.
Multinationals showed greater confidence in China since it has improved
trade and investment environment after its WTO entry.
Market is the propeller for the global industries to flood into China.
For investors, the greatest incentive lies on their consensus that they
make money in China, said Long.
"I believe China will maintain a high speed of economy growth for
20 or 30 more years," said Long.
According to Long, China has huge domestic demands remained to be discovered.
China's 120 million rural redundant laborers, twice the population of
France, can nurse new style of consumption and will pose numerous demands
for education and houses on their immigration into the urban areas.
 |
Event organizers said countries such as Saudi Arabia, Yemen, Mexico,
the United Kingdom, Cuba and Sweden have showed strong interests
in the "go global" activity and expressed their intention
to bring investment projects to the fair. |
By Hu Meidong The sponsor for the 8th China International Fair of Investment
and Trade (CIFIT), the Ministry of Commerce will give full support
to the forthcoming fair scheduled to be held from September 8 to
13 in Xiamen, Fujian Province, said officials with the ministry. |
 |
Leaders of East China's Fujian Province, have raised new requirements for the preparatory work of the 8th China International Fair for Investment and Trade (CIFIT). ¡ª Page 2 |
 |
China¡¯and the United Stated wound up their latest session of the China-US Joint Commission on Commerce and Trade(JCCT) in Washington last month ¡ª Page 2 |
 |
With great expectations, Sweden is going to send a larger delegation to attend the 8th China Iternational Fair for Investment and TradeA(CIFIT). ¡ª Page 3 |
Organizing Committee of China International Fair for investment and rade Tel: 86-592-506 8420,514 6205 E-mail: 98xiamen @public.xm.fj.cn