Senior Official Confident China will Hit Trade Goal

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Last updated at: (Beijing Time) Friday, August 01, 2003

Senior Official Confident China will Hit Trade Goal

A senior Chinese official said Tuesday that China could hit its trade targets despite the SARS (severe acute respiratory syndrome) crisis.

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A senior Chinese official said Tuesday that China could hit its trade targets despite the SARS (severe acute respiratory syndrome) crisis.

Zhang Zhigang, vice-minister of commerce, said at a working meeting of his ministry that the impact of SARS was limited and tentative.

"The cutting edge of the Chinese economy remains unchanged," hesaid.

Rebounding world trade and the restructuring of industries, he noted, were conducive to China attracting foreign direct investment (FDI) and maintaining export growth.

During the SARS crisis, China maintained a stable domestic market and rapid growth of imports and exports, while achieving balanced trade, he said.

China had positive policies to draw FDI and to help Chinese companies to invest abroad, he said.

International trade protectionism, the lagging SARS impact and the troubled market supply system would negatively impact the country's trade and business, he said.

"However," he added, "the annual goals could be successfully completed."

In the latter half of 2003, he acknowledged, China would try tostimulate domestic consumption, explore new economic growth points,including automobiles, housing, telecommunications, education, healthcare and tourism.

The country would also tap the rural market and promote e-business, Zhang said.

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