China to Share 7% of World Export by 2007: World Bank

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Last updated at: (Beijing Time) Tuesday, September 09, 2003

China to Share 7% of World Export by 2007: World Bank

China's share of the world export is expected to rise to about seven percent in 2007 from 4.4 percent in 2001, according to a World Bank report on China's economy issued Tuesday morning in Beijing.

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China's share of the world export is expected to rise to about seven percent in 2007 from 4.4 percent in 2001, according to a World Bank report on China's economy issued Tuesday morning in Beijing.

The report gives a full coverage of China's economic progress in recent years and a detailed forecast for economic growth in 2003.

Service sector to become pillar for job creation in China

The World Bank said that the service sector is the likely pillar for future job creation in China.

According to the report, during 1990-2002, China's service sector generated 7.6 million jobs annually on average, compared to 1.6 million jobs created in industry and 1.7 million exits from agriculture.

The report says the contribution of the service sector to job creation in the provinces included in China's western region development strategy was 1.3 million a year, while employment in industries actually shrank by two million in total.

The report also says the job creation between 1990-2001 in those western provinces was still not "sufficient" to meet the demand of four million new jobs provided in the process of China's labor transfer out of farming and agriculture.

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