"We hope multinational companies can realize social responsibility and contribute more to the stable and sustainable development of the global economy," Chinese Vice Premier Wu Yi said in Zhuhai Thursday.

Addressing the opening ceremony of the World Economic Development Declaration Conference (WEDDC) and the China Business Summit, Wu said that as an important drive for economic globalization, multinational companies have gained wide attention from the world.

Their development has promoted the optimization of resources in the world, sped up the structural adjustment of international industry, promoted technological progress and system innovation and provided more opportunities to deepen trade and economic exchanges and cooperation.

Multinational investment played an important role in economic development and trade growth for all nations, especially creating conditions for developing nations to gain an advantage on the global stage, she said.

Wu added that grasping rich economic resources, information, advanced technological and management methods, enterprises and private sectors have become the powerhouse of international economic activities and played an important role in the world.

"We advocate that government, enterprises, and private sectors should cooperate and coordinate with each other," Wu said. "Government should provide fair and transparent policy support and create beneficial conditions for production and management, while enterprises and private sectors should play a more important role in capital support, technological advancement and management improvement."

(Xinhua News Agency November 6, 2003)