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Jiang Urges Developing APEC Members to Attract Foreign Capital, Technology
President Jiang Zemin encouraged developing members of the Asian-Pacific Economic Cooperation (APEC) on November 15 to intensify efforts for attracting and utilizing foreign capital and technology.
Jiang, who arrived in Bandar Seri Begawan Tuesday to attend the eighth informal leadership meeting of APEC and to pay a state visit to Brunei from November 17-18, made the appeal at a 2000 APEC Chief Executive Officers' Summit.
To conduct economic restructuring and to optimize resource allocation, Jiang said developing members should encourage their enterprises "to be bold and to look outside to better utilize the 'two kinds of resources and two markets' both at home and abroad, and both in and out of the region."
He also asked developed members to encourage their companies to invest in developing countries and to offer technology transfers.
Developing members should continue to take advantage of their rich human resources and comparatively low labor costs by striving to develop labor-intensive industries with relatively high technology content and the labor-intensive production links in the high-tech industries, the Chinese president urged, adding that this will spur economic development and boost employment.
Jiang called on developing members to support their enterprises, enhance their capacity to make scientific and technological innovations, develop high-tech industries, increase the scientific and technological content of products and to improve product quality.
"Priority should be given to the training of entrepreneurs that have a mind for international business and global strategy," Jiang said to the developing members of APEC.
APEC comprises Australia, Brunei, Canada, Chile, China, Hong Kong of China, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan of China, Thailand, the United States and Vietnam.
Leaders of the group hold an informal meeting every year.
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