Shanghai to Call Conference on China's Market

An upcoming conference of major business leaders and experts will influence the US Congress' upcoming vote on granting China permanent normal trading status, according to a local official.

Zhou Mingwei, director of Shanghai Municipal Office for Foreign Affairs, said yesterday most of the American corporate leaders attending the Asia Society's 11th Annual Corporate Conference will go back home to emphasize the importance of the Chinese economy to the United States and their commitment to the Chinese market.

The conference, scheduled for May 10-12, has invited about 900 VIPs, CEOs and scholars, including 500 from foreign countries.

Zhou disclosed that US business lobbyists in favour of offering China permanent normal trade relation (PNTR) status will include American International Group Chairman and CEO Maurice Greenberg, whose speech will focus on the importance of China to US companies at the opening banquet.

Chinese Premier Zhu Rongji will also give a keynote speech.

It is believed that Zhu's presence will highlight the importance of the conference.

The Chinese Government signed a major market access agreement with the United States last year.

China has held three rounds of negotiations with the European Union for WTO entry. More talks are expected soon in Beijing.

"China is not only attractive in terms of a very large potential market, but also because it will be able to play a bigger stabilizing role for the regional economy. China can also promote growth in the world economy, a fact that has already been proven during the Asian financial crisis," Zhou said.

The Asia Society Shanghai conference opens with the recovery of the Asian economy as its background. Government decision makers, business leaders and scholars will discuss a number of topics concerning the Asian economy, its competitiveness in the world economy and sustainable development.

The conference is believed to be important for Shanghai in its endeavour to become an international city for conventions. It successfully hosted the Fortune Global Forum last year, and is preparing for the APEC summit next year.



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