China's WTO Entry to Benefit Foreign Investors: US Business LeaderChairman of the US Chamber of Commerce Steve Van Andel said Friday that China's forthcoming entry into the World Trade Organization (WTO) would help improve the confidence of US companies which have an interest in investing in Xiamen.When interviewed by Chinese reporters, Andel, who is attending the Fifth China International Fair for Investment and Trade (CIFIT) hosted by this eastern coastal city, said that China's entry into the WTO will ensure its adherence to the market economy. Therefore, foreign investors will more willingly pour money into the country, he said. Andel, also chairman of the board of Amway of the United States, said that his company has achieved remarkable profits in the Chinese market over the past six years. China is the fourth-biggest trade partner of the United States and the United States is China's second-biggest. A healthy bilateral trade relationship between the two countries helps stabilize the world economy, he said. Andel said that he plans to encourage more US companies to invest in China. Vice-Premier meets with AndelChinese Vice-Premier Wu Bangguo said in Xiamen on September 7 that maintaining a sound development of China-US relations, especially economic and trade relations, is very important to both countries.Wu made the remark during a meeting with Steve Van Andel, chairman of the US Chamber of Commerce, and a US business delegation led by Van Andel. The US guests are here to attend the annual China International Investment and Trade Fair (CIFIT), which will begin Saturday in this coastal city in Fujian Province, east China. The vice-premier expressed appreciation of the US Chamber of Commerce's role in promoting the healthy development of Sino-US relations and in helping solve the Permanent Normal Trading Relations (PNTR) issue. It is of great importance to both countries to maintain a sound development of their trade and economic relations, Wu said. Despite twists and turns, Sino-US relations, on the whole, continue to develop, Wu said. Wu said US President George W. Bush's upcoming China visit is expected to promote bilateral relations. He said he hopes the US Chamber of Commerce will continue to play its part in the political and business circles of the United States, and promote the healthy development of China-US relations. China's upcoming entry into the World Trade Organization (WTO) will serve the common interests of China and the United States, and will mean a more open market and more business opportunities for US business circles, he said. Wu briefed his guests on China's economy and its strategy to develop its vast western regions. China has maintained a fast economic growth this year, which has created favorable conditions for strengthening Sino-US economic cooperation and trade, Wu said. Van Andel said the US Chamber of Commerce has always been a firm supporter of US-China economic relations and trade. Enhanced bilateral trade and economic cooperation will strengthen bilateral ties, he said. China's upcoming entry into the WTO will also increase investor 's confidence in China's market, Van Andel said. |
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