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| WTO Member China Will Stimulate World Economy: Trade Minister |
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WED, SEP 19, 2001
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Chinese foreign trade minister Shi Guangsheng said China is sure to inject vigor in global economic development after its entry to the World Trade Organization (WTO).
He made the remarks when addressing the ongoing Sixth World Chinese Entrepreneurs Convention in Nanjing.
In his speech, the minister noted that China's GDP kept a steady growth rate of 7.9 in the first half year while the world economy sagged.
Its GDP in 2000 exceeded one trillion U.S. dollars and was ranked sixth in the world. Currently more than 100 million US dollars are directly invested in China everyday.
The minister said he expected the Chinese economy to continue its seven percent growth rate during 2001-2005.
The minister told the convention that China will join WTO this November. This will help regulate the country's market economy mechanism and create an environment for fair competition for both domestic and overseas businesses, he said.
Meanwhile, the event will be a win-win situation for both China and its bordering countries as more active bilateral trade will be carried out, said the minister.
Shi also expressed his hopes that overseas Chinese will continue to exchange and cooperate with their motherland counterparts and help China participate in the global economy.
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