China’s Development in the Last 20 Years
Over the past 20 years and more, a multi-directional opening-up pattern has, by and large, taken shape in China and its open economy has gown rapidly. China is now the seventh largest trading nation in the world. For eight years in a row, it has attracted more foreign capital than any other developing country. It has engaged in extensive economic and technological exchanges and cooperation with other countries and regions. This has not only given a strong boost to China’s economic and social development, but also created favorable conditions for businesses of other countries and regions to seek business opportunities and conduct cooperation in China.
In today’s world, a country can hardly develop in isolation. The Chinese Government will unswervingly implement the opening-up policy. It will more vigorously promote all-directional, multi-tiered and wide-ranging opening-up and take part in international economic cooperation and competition at a greater width and depth.
China will continue to develop its foreign trade vigorously. It will more effectively implement the strategy of diversifying markets and expanding trade on the strength of quality and through science and technology, so as to increase import and export of both goods and services. It will stick to the policy of making active, rational and effective use of foreign capital. It will continue to improve its investment climate and attract more foreign capital. It will explore various ways to put foreign capital to better use, such as acquisition, merging and investment fund and equity investment. It will open wider to the outside world, both sector wise and geographically. It will phase in the liberalization of such service sectors as banking, insurance, telecom and trade and promote the opening-up of its central and western regions. It will work hard on e-business, accelerate the process of informationization, and support enterprises in applying modern information network technology to international cooperation and exchanges. It will take an active part in the multilateral trading system as well as regional and international economic cooperation. It will develop its bilateral and multilateral trading ties in an all-round manner.
The next 5 to 10 years will be a crucial period for China’s economic and social development. China will maintain sustained, rapid and sound economic growth. The blueprint has already been drawn up for development in the next five years. According to the program, continued efforts will be made to promote economic growth and social progress, with development as the main theme, restructuring the key link, reform, opening-up and technological advancement the driving force, and higher living standards the ultimate goal. At present, China is making strategic readjustment to its economic structure and speeding up the readjustment of its industrial setup, regional structure, urban and rural structure and ownership composition. China has given prominence to the development of science, technology and education, accelerated the informationization of national economic and social progress, strengthened environmental protection, expedited township development and improved public service system. It is expected that China’s GDP will have reached 12.5 trillion yuan by 2005. China will import US$1.4 trillion worth of equipment, technologies and products. We welcome more overseas investment, new investment projects in China and long-term stable cooperation with us by business communities around the world.
Negotiations on China’s accession to the WTO have been going on for 15 years. China’s stance remains the same. Following its entry into the organization, China will steadily expand its opening-up program in terms of commodity and services trade, create a level playing field for a fair and transparent competition between Chinese and overseas enterprises, establish and improve a foreign trade regime that is consistent with international practice and that suits China’s own national conditions, and provide the overseas enterprises with more and stable access to the Chinese market so as to facilitate economic cooperation and trade between China and other countries. China’s entry into the WTO will instill new vitality into the economic growth of China as well as other countries and regions in Asia and beyond. The Chinese people will benefit from it, and so will the people of other countries in Asia and the world.
a multi-directional opening-up pattern 全方位的對外開放格局
attract foreign capital 吸引外資
give a strong boost to… 有力地推動
all-directional, multi-tiered and wide-ranging opening-up 全方位、多層次、寬領(lǐng)域的對外開放
diversifying markets 多元化的市場
acquisition, merging 收購、兼并
equity investment 證券投資
the multilateral trading system 多邊貿(mào)易體系
bilateral and multilateral trading ties 雙邊和多邊經(jīng)貿(mào)關(guān)系
maintain sustained, rapid and sound economic growth 保持經(jīng)濟(jì)持續(xù)、快速、健康發(fā)展
international economic practice 國際經(jīng)濟(jì)通行規(guī)則