Premier Zhu Predicts Bright Future of BFA

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Last updated at: (Beijing Time) Friday, April 12, 2002

Premier Zhu Predicts Bright Future of BFA

Premier Zhu delivers a keynote speech at the opening of the first annual conference of the Boao Forum for Asia in Boao. Some 2,000 government officials, scholars and entrepreneurs from 48 countries and regions attended the meeting focusing on Asian economy amid growing globalization.

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The Boao Forum for Asia (BFA) has been a valuable supplement to cooperation among Asian countries, and will enjoy a bright future through their concerted efforts, Chinese Premier Zhu Rongji said Friday.

As the host of the forum, China wishes to give continuous support within its own capacity to the forum for its sound development, Zhu said at the forum's first annual conference which opened Friday morning in Boao, a town on the eastern coast of China's Hainan Island.

Since BFA, a non-governmental and non-profit international organization with a permanent location, was inaugurated in February last year, the international political and economic situations have undergone great changes, the premier noted.

With the theme of "New Century, New Challenge, A New Asia", this annual conference gives explicit expression to the objective of the forum: to be an Asia-based, globally-envisioned venue for discussions on development, and fully reflects the common aspiration of the Asian countries to strengthen dialogue, enhance mutually beneficial cooperation and promote prosperity.

Zhu said that China stands readily to work together with Asian countries, as well as countries in other parts of the world and people from various circles who care for Asia, and to commit itself to building a thriving new Asia.

Asian Countries Move for Deeper Cooperation

Zhu Rongji said there has been a growing awareness of regional cooperation featuring greater tolerance, equality and gradual progress in Asia in recent years, while a situation of open, healthy and mutually beneficial cooperation is taking shape, thanks to the joint efforts of Asian countries.

He said the Asia Pacific Economic Cooperation (APEC) is making steady progress, the East Asia regional cooperation has gone ahead with full stream and the Shanghai Cooperation Organization is functioning smoothly. China and the Association of Southeast Asian Nations (ASEAN) members agreed last November to gradually build a China-ASEAN free trade area in the coming decade and the various quarters are making contacts for an early launch of negotiations, he said.

These developments will provide important channels and mechanisms for wider exchanges and deeper cooperation among Asian countries and regions, Zhu said.

Economic Development Top Priority of Asian Countries

The Chinese Premier said Economic development is the primary task of Asian countries, and they should take economic cooperation as the key focus and develop all-round cooperation in a step-by-step fashion.

Given our real needs and experience, such areas as trade, communications, agriculture, information and energy can be made priority areas of cooperation which will be gradually enlarged to include other areas.

Asian countries, he suggested, should build on existing channels of cooperation to steadily broaden the scope of cooperation, further step up bilateral cooperation to consolidate the basis of regional cooperation, and ensure that the regional cooperation is an open one, the premier said.

China's Development to Create Unlimited Business Opportunities

The new leap forward in China's reform , opening up and modernization drive will not only bring enormous benefits to the Chinese people, but also deliver unlimited business opportunities, ushering in broad prospects for economic cooperation in Asia and around the world, Zhu Rongji said.

Over the past two decades and more, China has achieved rapid economic growth thanks to its unswerving pursuit of the reform and opening up policy, accelerated the development of its national economy, and improved its people's livelihood, Zhu said at the forum.

In the new century, China's modernization drive has entered a new stage, and its national economy will keep developing at an annual growth rate of more than seven percent, he said.

China's accession to the World Trade Organization (WTO) represents the new starting point for its opening to the outside world. Our participation in worldwide economic cooperation and competition will assume greater scope and depth, Zhu said.

China will open its door still wider to the rest of Asia and the world, to entrepreneurs and investors of all countries. China will honor its WTO commitments, opening more areas in a phased manner, lowering our tariffs and removing non-tariff barriers.

China will continue to improve the rule of law, thus bringing about a market environment that is fairer, more transparent and more predictable.

In the meantime, China will energetically carry out our " going global" strategy, encouraging more Chinese firms under various forms of ownership to operate globally.

China Always Is Major Force for World Peace

China is, and will always be, an important force for world peace and common development, Chinese Premier Zhu Rongji said.

The Chinese people love peace, and China's development needs peace. But an economically developed China will pose no threat to any country or region, Zhu stressed.

China Not to Devaluate Renminbi

Zhu said China is carrying out a policy of maintaining the value of its currency Renminbi, and the policy will not be changed.

Zhu said , affected by the financial crisis years ago, devaluated their currencies one after another, the Chinese government has pursued a policy of not devaluating Renminbi in order to maintain the benefits of the region and to meet China's own needs. "This policy will not be changed," Zhu said.

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