Lu Fuyuan, minister of commerce,
told the press that by the end of 2002, China had approved
more than 420, O00 foreign-funded enterprises and utilized
US$448 billion of foreign capital. The majority of
foreign-funded enterprises have been operating successfully
and have greatly benefited from China's rapid economic
development. The value of China's commodity imports is
expected to hit US$1, O00 billion in the coming three years,
which will further spur the development of the global
Lu Fuyuan, minister of commerce, told the press a
short time ago that in the coming two decades, as in the
past two decades of reform and opening-up, China would use
facts to demonstrate even more convincingly that it is bound
to make historic contributions to global economic
development and to the common progress of all countries in
the world, while making effort to build a well-off society
in the nation.
China will bring great business
opportunities to industrial and commercial circles
Minister Lu said since China introduced reform and
opening policies, its domestic and foreign trade has
developed swiftly and its market has expanded continuously.
To date, China has entered the front ranks of the world in
terms of market scale. In the coming 20 years, China's
market will continue to enjoy tremendous potentials for
development, which will offer great business opportunities
to industrial and commercial circles in various countries
and regions worldwide.
statistics, between 1978-2002, the annual increase of China'
s total volume of retail sales and import and export trade
hit 8.2 percent and 152 percent respectively. By 2002, the
respective volume topped 4,000 billion yuan and US$620.8
billion. In 2002, China's steel and cement consumption
accounted for 25 percent and 40 percent of the global total
output respectively. The length of expressways increased to
25,000 km, ranking second in the world. The number of
telephone subscribers exceeded 400 million and that of
netizens reached 59.1 million, coming first and second in
the world respectively. During the five years between
1998-2000, China's total volume of imported goods reached
US$1,069.8 billion. In 2002, the import volume reached
US$295.2 billion, up 21.2 percent on the previous year. Of
the country's US$51.7 billion newly added import volume,
29.3 percent came from Asia.
By the end of 2002, China had approved more than
420,000 foreign-funded enterprises, with committed and
paid-in foreign capital totaling US$828.1 billion and US$448
billion respectively. In 2002 alone, 34,171 foreign-funded
enterprises were established in the country, a rise of 30.7
percent on the previous year. At present, the majority of
foreign-funded enterprises are operating successfully and
have greatly benefited from China's rapid economic
development. Overseas investors most favor high-tech, auto
and service industries. Some transnational companies have
stepped up development by investing in China. Take the auto
industry for example. In 2002 China produced 1.09 million
sedan cars and sold 1.126 million units, up 55 percent and
56 percent respectively on the previous year. The 15 key
motor vehicle enterprises netted more than 20 billion yuan
in profits that year, a rise of 56 percent. Of these,
Sino-foreign joint ventures reaped impressive economic
will further boost global economic
Minister Lu noted that in
spite of global economic slowdown over the past two years,
China's economy has maintained rapid development, injecting
vigor to global economic growth. According to estimation by
overseas experts, in 2002 the growth of China's economy was
equivalent to 17.5 percent of the global total, with its
contribution rate second only to that of the United States.
The rate of China's contribution to world trade growth was
as high as 29 percent that year. The minister said over the
past year China has played a constructive role in the
multilateral economic system. Facts have once again
confirmed the prediction made by China before its WTO
accession: China's development cannot do without the world,
and world development needs China.
The minister stated that
China would continue to expand commodity and service trades,
basically maintain the balance between imports and exports
and strive to achieve a win-win situation in foreign trade.
In the first two months, China imported US$54.8 billion
worth of goods, up 571 percent on last year's same period.
With this speed of growth, the value of the country's goods
import is expected to reach USS1,000 billion in the coming
three years, which is equivalent to the total in the past
five years. This will increase China's power to spur global
economic development. In addition, China will energetically
implement its west development strategy, further improve its
investment environment and provide overseas investors with
greater business opportunities in the western region.
Sticking to a new industrialization approach, China will
actively develop new and high-tech industries and expedite
the development of modern service industries, so as to
provide overseas investors with ample room for development.
Meanwhile, China will guide and support enterprises with
competitive advantages to invest overseas and carry out
diverse forms of economic and technological cooperation on
the basis of equality and mutual benefit. According to Lu,
by the end of 2002 China had established 6,960 enterprises
abroad, with Chinese investment approaching USS10 billion.
The transnational operation of Chinese enterprises has not
only enlarged the area for their own development, but also
increased the employment and tax revenue and promoted the
economic development in the localities where they operate.
The minister pledged that China would further intensify
bilateral, multilateral and regional economic cooperation,
so as to achieve the mutual supplement, interest sharing and
joint development of China and all other countries and
regions in the world.
Геннеральное Консульство Китайской Народной Республики в г.Хабаровске
Все права защищены http://www.chinaconsulate.khb.ru