China, East Asian Economies Can Cooperate on Win-win Base: Governor of FujianChina and other East Asian economies can cooperate on a win-win base, Governor of Fujian Province Xi Jinping told the East Asia Economic Summit Tuesday.China's imminent entry into the World Trade Organization will provide new chances for economic cooperation between China and other East Asian Economies, the governor said. It will contribute to better industrial structure and economic integration and the upgrade of the whole economic competitiveness in the East Asia, he added. Xi said Chinese economy remains active, with a growth rate of 7.9 percent in the first nine months of the year 2001 and the Chinese government expected a yearly growth rate of 7 percent in the next five years. This is the golden period for China to develop its economy and will also provide big opportunities for economies in East Asia and the world to cooperate with China on a win-win base as China needs more resources, investments and technologies to build its infrastructures and reform the traditional industries, the governor said. He took the Fujian Province, the sixth biggest province in China according to its GDP per Capita, as an example. Fujian's foreign investments come mainly from the East and South Asia and half of them are from Hong Kong, he said. Echoing the governor, Vincent H.S.Lo, chairman and chief executive of Shui On Holdings Hong Kong, also said at the summit that China and the East Asian economies can be competitors and complimentary partners at the same time. China will become the most considered destination for foreign investment after the September 11 attacks, he said. Other economies which want to benefit from China's economic emergency should gain penetration to the huge Chinese market and build complimentary and cooperative relations with China, Lo said. |
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