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Chinese President Unveils APEC Finance, Development Project
Chinese President Jiang Zemin officially unveiled the Asia-Pacific Economic Cooperation (APEC) Finance and Development Project at a ceremony at the Shanghai International Media Center on October 21.
Accompanied by vice-premier Qian Qichen, Jiang lifted the red curtain over the metal logo of the project, marking its official launching.
Xiang Huaicheng, chair of the eighth APEC financial ministers' meeting, briefed Jiang on the project. The project was advocated by China and endorsed at the financial ministers' meeting before being submitted to the APEC Economic Leaders Meeting which ended Sunday.
The project marks a specific step towards the promotion of capacity building through the mechanism of the APEC ministerial meeting, in response to a call of the Economic Leaders Meeting for advancing economic and technological cooperation among member economies.
It marks one aspect of the substantive contributions to APEC made by China, the host of the 2001 APEC meetings, officials here said.
The three-year project aims at boosting the institutional capacity of APEC member economies, developing member economies in particular, in the fields of finance and development, through sponsoring seminars, subjects studies and personnel training courses.
The project will become operational as of early next year.
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