Chinese FM on China's Accession to WTO

China's economic development is conducive to the economic development of Asia and the world at large, Chinese Foreign Minister Tang Jiaxuan assured the participants of an annual meeting between the Association of Southeast Asia Nations (ASEAN) and its dialogue partners Thursday.

China's accession to the World Trade Organization (WTO) will offer a huge market of 1.3 billion people, the largest in the world, which will give a big impetus to the development of the world economy.

"Once in the WTO, China will strictly comply with the universally followed rules of the market and open wider to the world," Tang said.

China achieved an economic growth rate of 8.2 percent in the first quarter of this year, the first year for China to implement its Tenth Five-Year Plan.

In recent years, China's import has maintained a strong growing momentum.The import increased by 18.2 percent the year before last and by 35.8 percent last year.

China's imports have amounted to over 800 billion U.S. dollars in the past five years, more than half of which have come from Asia, Tang said.

He added that in next five years, China is going to import about 1.4 trillion dollars worth of equipment, technologies and products.

"This undoubtedly spells out a huge market and business opportunities," he stressed.

However, Tang said China is the biggest developing country in Asia and the world, and it is ready to further its cooperation with other countries to their mutual benefit.

(Xinhua News Agency 07/26/2001)

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