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Shanghai Mayor Xu Kuangdi said the city will try to emulate
and learn from the experiences of market economies around the
world as it prepares for entry into the World Trade Organization.
The promotion of market operations will help Shanghai encourage
foreign investment, benefit local industries and develop the
city's Pudong New Area.
"Shanghai will adjust the way the government administrates
the economy and take the lead in China to borrow international
methods to set up an operational mechanism," said Xu at
the welcoming banquet of Asia Society's 11th Annual Corporate
Conference.
He said the conference is a venue for Shanghai to learn more
about the international economy and management techniques.
To become an international economic center, the government is
working on its 10th Five-Year Plan and a long-term development
plan for Shanghai.
Shanghai plans to take advantage of higher education, research
and technology to foster an economic system that encourages
innovation.
"Service industries will be further developed" by
encouraging more domestic and foreign investment into financial,
insurance, trading and investment development organizations,
Xu said.
As the country's commercial and financial center, Shanghai has
been striving for a global share in the information technology,
finance and shipping.
"Shanghai has also solemnly made commitment to citizens
and investors to strengthen environmental protection."
The emphasis this year will be put on the treatment of Suzhou
Creek, one of the two major rivers running through the city,
he said.
(China Daily 05/12/2000)
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