'99 China Business Summit Opens 　　The '99 China Business Summit, co- sponsored by China Enterprise Confederation and the World Economic Forum, opened on April 26 in Beijing. 　　While addressing the opening ceremony, Chinese Vice-Premier Wu Bangguo reiterated that the Chinese currency RMB will not devaluate, citing that China now enjoys sound material foundation and has a foreign exchange reserve of 146 billion US Dollars. 　　"The general economic situation in China is good," said Wu, adding he is confident of China's continued fast economic growth. 　　With a theme "Sustaining Growth: Managing Cyclical Adjustment and Long-term Restructuring," this business summit drew nearly 500 participants across the globe, including government officials, CEOs from well-known enterprises and economists, who will discuss such topics as China's financial policy, housing and insurance reforms. 　　This is the 18th annual China business summit. Economicnews 1999-04-27 Page2 Full Story in Chinese