China to Play Key Role in Economic Globalization

Noting that information and technology have become key factors of global competition, Richard Li, chairman of the Hong Kong-based Pacific Century Group, said China has become the fastest growing information technology market in the Asia and Pacific region.

He expressed the belief that the Chinese government's move to give science, technology and education a more important role will accelerate the development of China's Internet economy.

Inequality in the process of globalization has become a major concern for developing countries. While meeting with foreign representatives, Chinese President Jiang Zemin said the aim of the conference is to promote cooperation for the establishment of a new world order that is fair and reasonable.

His words received warm response from the representatives. Many shared the opinion that China's integration into the world economy would give developing countries a bigger voice in the world and help build a prosperous and stable new century.

Though the prospects for China in economic globalization are bright, well-known Chinese economist Wu Jinglian warned that the Asian financial crisis has clearly indicated the danger associated with economic globalization.

For China to benefit from the process, he said, the country must accelerate its domestic reforms and step up the establishment of a market economy mechanism.

Only by doing this will China's goal of becoming a "near developed country" be realized by the middle of the 21st century, wu added.

People's Daily Online ---