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China contributes to stable development of world economy: white paper


16:55, September 06, 2011

BEIJING, Sept. 6 (Xinhua) -- China has made important contribution to the stable development of the world economy, says a white paper issued by Chinese government on Tuesday.

The white paper, titled "China's Peaceful Development," was released by the State Council Information Office, introduces the path, objective and foreign policy of the peaceful development and elaborates on what China's peaceful development means to the rest of the world.

According to the white paper, since China's entry into the WTO in 2001, China has imported goods worth nearly 750 billion U.S. dollar every year, and created over 14 million jobs for those exporting countries and regions.

"Over the past decade, foreign-funded companies in China have remitted a total of 261.7 billion U.S. dollar of profits, with an annual increase of 30 percent," the white paper says.

According to the white paper, from 2000 to 2010, China's annual non-financial direct overseas investment grew from less than 1 billion U.S. dollar to 59 billion U.S. dollar, thus boosting the economic development in the recipient countries.

In 2009, overseas China-invested companies paid taxes worth 10.6 billion U.S. dollar, and employed 439,000 local people.

"China has contributed over 10 percent to world economic growth every year in recent years," the white paper says.

It says in 1997 when the Asian financial crisis caused a dramatic devaluation of currencies in countries and regions close to it, China succeeded in keeping the RMB exchange rate basically stable, contributing to regional economic stability and development.

"Since the international financial crisis erupted in 2008, China has taken an active part in the G20's efforts to build a global economic governance mechanism, promoted the reform of the international financial system, got involved in multi-country macroeconomic policy coordination, and participated in international trade financing schemes and financial cooperation," it says.

China has sent large overseas purchasing missions and helped countries in difficulties, it says.

According to the white paper, China conscientiously meets the Millennium Development Goals of the United Nations, and is the only country in the world that has halved the number of people living in poverty ahead of schedule.

"In addition, China provides assistance to other countries and regions as its capacity permits," the white paper says.

According to the paper, by the end of 2009, China had given assistance worth 256.3 billion RMB to 161 countries and over 30 international and regional organizations, reduced and canceled 380 debts incurred by 50 heavily indebted poor countries and least-developed countries, trained 120,000 people for other developing countries, and sent 21,000 medical personnel and nearly 10,000 teachers abroad to help other countries.

It says China encourages the least-developed countries to expand exports to China and has pledged zero tariff treatment to over 95 percent of the exports to China by all the least-developed countries which have diplomatic relations with China.

"China's development since New China was founded in 1949 and particularly since the reform and opening-up policies were introduced in 1978 shows that China is an important member of the international community which has contributed its due share to bringing about a more just and equitable international political and economic order," says the white paper.


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