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China Confident in Economic Prospect After WTO Entry
China's entry into the World Trade Organization (WTO) will help further integrate the Chinese economy with the global economy, and the prospect of the national economy is bright, China's chief economic planner Zeng Peiyan said in Shanghai Thursday.
"The WTO accession would offer a historic opportunity to China' s development though we fully understand that a difficult period is unavoidable," said Zeng, minister in charge of the State Development Planning Commission.
"However, I believe we will overcome difficulties through active preparations and efficient work. We will have a bright prospect in future," Zeng told chief executive officers and top managers of some 400 Chinese and overseas companies at the 2001 Asia-Pacific Economic Cooperation CEO Summit, which had just opened.
China will honor its commitments and speed up the restructuring of relevant management mechanisms, so as to adapt itself to the WTO rules and requirements, to actively participate in multilateral trade systems and regional economic cooperation, to promote foreign trade, and to introduce advanced technology and key equipment, Zeng said.
China will gradually open its domestic market and promote, step by step, the opening of the service sectors such as finance, insurance, telecommunication, trade and tourism, he said. At the same time, China will continue to improve the environment for investors and protect their rights and benefits according to law.
China will keep attracting foreign investment, especially that from multinationals, for developing the high-tech industry, promoting the reform of state-owned enterprises and infrastructure construction, and participating in the development of western China, he said.
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