In this process, China will step up economic restructuring and development, Wen said while addressing the opening session of the 2002 annual meeting of the China Development Forum, which opened here Sunday morning.

Economic globalization has been a key trend of today's economic development in the world, said Wen, and China has initially established a market economy mechanism after more than two years of reform and opening to the outside world.

China will improve its market economic system and legal system in accordance with WTO rules and the nation's actual conditions, further transforming the government functions and standardizing the market order for establishing a unified domestic market for fair competition.

Efforts will also be made to adjust the industrial structure and introduce foreign capital, technology and management expertise while giving full play to its rich human resources.

The Chinese government will continue to encourage and support the development of the private sector, create more jobs and improve the social security system to create a stable environment for economic and social development, the vice-premier said.

The vice-premier pointed out China's economic development and prosperity will offer a huge market and opportunities for all countries in the world. China's development needs the world and the world also needs China for development.

The opening of China's commodities market will mean deals worth at least 1.5 trillion U.S. dollars for its trade partners in the next five years, and the further opening of its service market will provide new development fields for investors from around the world, he said.

Wen stressed joining the WTO will benefit China's economic development. China insists on the principle of equality and mutual benefit in international economic and technological cooperation and exchange, and it will always act as an important force to maintain world peace and promote common development.

The two-day forum, sponsored by the Development Research Center of the State Council, has its theme run as "China: a member of WTO " this year.

More than 200 people attended today's meeting, including officials from Chinese government departments, leaders of some multinational companies and representatives from related international organizations, and Chinese and foreign scholars.

(Xinhua News Agency March 25, 2002)