Fair in Nanjing to Encourage Export EconomyThe Nanjing Autumn 2001 Trade Fair will be a stimulant to the development of Jiangsu's export-oriented economy in the 10th Five-Year Plan period (2001-05), according to Wang Rongbing, vice-governor of Jiangsu Province in East China and director of the organizing committee, according to today's China Daily.Jointly organized by the Jiangsu provincial government, Jiangsu Foreign Trade and Economic Co-operation Department and the Nanjing municipal government, the fair will be held at the International Conference and Exhibition Center September 19-22 in the capital city of East China's Jiangsu Province. The province's export-oriented economy has witnessed a rapid development since the late 1980s with the flow of a tremendous amount of overseas capital into various industrial sectors, due to the opening-up and reform policies. More than 34,000 joint ventures and solely foreign-funded companies, including 110 of the world's top 500 companies, have invested in different parts of the province and in particular in the southern areas. Reports show these firms have contributed one-fourth of Jiangsu's total industrial output value, and one-fifth of the its fixed asset investment. The total value of the province's exports and imports in the past five years has increased rapidly at an annual rate of 22.5 per cent, reaching US$45 billion by the end of 2000. |
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