Chinese President Hu Jintao said in Bangkok Sunday that China's
reform and opening up and its economic growth present win-win
outcomes and mutual benefit for the whole world.
Answering questions at the ongoing CEO Summit of the
Asia-Pacific Economic Cooperation (APEC) forum, Hu said China's
opening up has won the country broader room for development, and
has made it possible for China to acquire the important resources
of capital, technology and managerial expertise.
"But at the same time, our 1.3 billion people also represent a
tremendous market that we have to offer to the rest of the world.
And China also offers much business opportunity to the
multinationals in the whole world," he added.
The question-and-answer session followed a keynote address
delivered by the Chinese president at the APEC CEO Summit.
"China will continue to take an active part in global and
regional economic cooperation, faithfully play by WTO rules and
live up to our WTO commitment," the Chinese president said.
He expressed the confidence that "a China that is going for
reform and opening up and an economically growing China will always
be a positive force for stable development of the economies of Asia
Pacific and the world beyond."
About 1,000 representatives and business leaders of APEC member
economies were present at Hu's address, which covered the valuation
of the Chinese Renminbi yuan, the situation of China's economic
growth, economic and technical cooperation among APEC members, and
reviving the stalled multilateral talks of the Doha Round under the
World Trade Organization.
Hu stressed that a stable Renminbi yuan serves the sound
operation of China's economy and conforms to the requirements for
economic development in Asia and the whole world.
He said China would maintain the basic stability of the Chinese
currency RMB at a reasonable and balanced level, and take further
steps to improve the rate-forming mechanism of RMB amid deepened
financial reform.
"China follows a market-based, single and managed floating
exchange rate system, which is consistent with the current status
of China's economy, its level of financial regulation and the
sustainability of its enterprises."
On China's economic performance, Hu said the country's target of
a 7 percent GDP growth set for this year "is well within
reach."
"China's economy remains in good shape with a strong momentum
for expansion," Hu said.
The Chinese president, who will attend the 11th APEC Economic
Leaders' Meeting scheduled here for Monday and Tuesday, urged
member economies of APEC to strengthen their economic and technical
cooperation to help turn potential markets into real ones.
"We should vigorously strengthen APEC economic and technical
cooperation, for it contributes to faster economic growth of the
developing members and helps them to turn their potential market
into a real one," Hu said.
"It also benefits the developed members by securing them even
greater market access, leading in the end to the achievement of
common development and common prosperity of all members," he
added.
Hu said that APEC can play a positive role in restarting the
stalled multilateral trade talks of the Doha Round by keeping the
forum's goals set in Bogor, Indonesia, 1994, of establishing free
trade between its developed economies by 2010 and its developing
members by 2020.
"Though the Doha round of WTO talks suffered some setbacks, so
long as all parties persist in consultation on an equal footing in
the spirit of seeking common ground while shelving differences, it
will be successful in the end," the Chinese president said.
(Xinhua News Agency October 19, 2003)