As the financial crisis spreads around the globe, China has proposed a series of measures which have been favorably received by some foreign experts who are to attend the 10th China development forum to be held in Beijing next Monday.
"CHINA OPPORTUNITY" ANTICIPATED
The four-trillion-yuan (about 580 billion U.S. dollar) stimulus package adopted by the Chinese government to spur the Chinese economy has offered opportunities to other nations and regions, some foreign economic experts said.
In an exclusive interview with Xinhua, Wook Chae, president of the Korea Institute for International Economic Policy, said that in light of the current global economic recession, the Chinese government quickly introduced a large stimulus plan and started to implement it, a move quicker and more effective than some other major economies.
Yuji Kiyokawa, president executive of the Japan-China Economic Association, said China had studied solutions to the crisis at an early stage, and adopted various policies including expanding domestic demand and improving people's livelihood, offering not only a chance for the Chinese people to improve their lives, but also a big opportunity for foreign companies to expand their businesses in China.
Angel Gurria, secretary-general of the OECD (Organization for Economic Cooperation and Development), said China's huge stimulus plan will also contribute to the world economy.
He said China's steady and healthy economic development will help the economies of other regions to develop as well. China's need for agricultural, mining and machinery products will provide opportunities for foreign investors and enterprises.
Zheng Yongnian, director of the East Asian Institute of the National University of Singapore, stressed the need for China to maintain healthy development of its economy. China getting its own business done, according to Zheng, will in itself be a big contribution to the world economy.
The financial crisis of course has also cast a shadow on the Chinese economy, Zheng said, but it also offers an opportunity for China to upgrade its economic structure and industry. As the upgrade normally involves technology, it thus offers a good opportunity for foreign investment.
