Both domestic and overseas young Chinese entrepreneurs are welcome to tap the potential of the nation's fast economic growth, officials and business leaders said on Saturday at the first Global Young Chinese Business Leaders Forum in Beijing.

Assistant Minister of Commerce Fu Ziying said at the two-day forum that as the country's gross domestic product is estimated to quadruple in the first 20 years of this century, its development requires the effort of young business leaders, who will in turn benefit from the country's development.

China's imports are expected to reach US$1 trillion in 2020, providing substantial opportunities to overseas Chinese enterprises to develop business.

Fu said the nation's foreign trade is estimated to have topped US$1.1 trillion in 2004.

Peking University economist Lin Yifu predicted that the Chinese economy would maintain an annual average growth rate of 8 to 10 percent for the next 20 to 30 years.

By 2030, 100 Chinese companies could be among the 500 largest businesses in the world, according to Lin.

Cao Yushu, deputy secretary-general and spokesman of the National Development and Reform Commission, said the country's stable economic growth and improving economic structure will provide opportunities for young Chinese business leaders.

He noted that investments in 2004 grew more than 25 percent year-on-year and predicted the momentum will continue this year.

Cao pointed out that the agriculture, major industrial machinery manufacturing and services sectors are all in need of investment from young business people.

(China Daily January 10, 2005)