Visiting Chinese Premier Zhu Rongji voiced the confidence in Manila on November 27 that the Chinese economy will be able to achieve a sustainable and stable development despite some new problems.

Addressing the luncheon hosted by the Philippine business community in his honor, Zhu said measures to secure such development include increasing effective demand, introducing more drastic readjustment and reform measures, accelerating the development of infrastructure and deepening the reform of state-owned enterprises.

These measures will also enable China to improve the quality of economic growth and economic performance so as to lay a good foundation for the next century, he believed.

Premier Zhu described as "forceful" a series of measures adopted by the Chinese government over the past year to overcome the difficulties resulting from the Asian financial crisis starting in 1997.

The measures, designed to expand domestic investment demand and consumer demand, "have produced remarkable results," he said.

The Chinese premier told the Philippine business community that during his talks Friday with Philippine President Joseph Estrada, the two sides agreed to explore new approaches and fields to promote bilateral economic cooperation and trade.

He also expressed his appreciation of the contributions made by the Philippine business community to the development of Chinese-Philippine relations.

Premier Zhu arrived here Friday on an official visit to the Philippines before attending the 3rd informal summit between the Association of Southeast Asian Nations (ASEAN) and China, Japan and South Korea, and that between ASEAN and China, which are all scheduled for Sunday.