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Shanghai, China, October 19,2001
Mr. Chairman,
Ladies and Gentlemen,
It is a pleasure to meet you, friends
from the Asia-Pacific business community in this thriving
city of Shanghai. And I am delighted to have this opportunity
to discuss with you the future development of the Asia-Pacific
region and the world at large.
How should the world evolve in the new
century? Where should the world be heading for? What should
the Asia-Pacific look like in the future? These are the questions
we should think very hard and address with a vision and practical
measures.
The ancient Chinese philosopher Confucius
once said, "Peace and harmony are the supreme virtues
of heaven and earth". This maxim may well reflect man's
long-cherished aspiration for peace, tranquillity, development
and prosperity.
However, the world is not tranquil and
is still plagued by regional conflicts and flagrant terrorism.
The September 11 terrorist attacks have disrupted world peace
and stability, and terrorism has become a global scourge.
The history of human civilization, mankind's
successes and failures, sufferings and glories, have left
us a profound lesson. The realities of today have given us
a mandate- a mandate to usher in a new era.
We must bear in mind the universal desire
of the people for peace, development and cooperation. We must
seek to create a new era when disputes are replaced by consultations,
confrontation by dialogue, when mutual respect prevails and
different cultures develop side by side in this diverse and
colorful world, and when people throughout the world live
in peace and enjoy development and prosperity, free from terrorist
threats.
With the advent of the 21st century,
economic globalization is gathering pace. Science and technology
are advancing rapidly and have become an important driving
force behind the world economic growth.
But unfortunately, this process is accompanied
by a widening gap between the North and the South and an uneven
development among countries and regions.
It is therefore essential to have a correct
assessment of what positive impact economic globalization
and scientific and technological advancement have had and
may continue to have on the expansion of productive forces,
creation of social wealth, dissemination of knowledge and
civilization and even world peace and stability so that we
can seize the historical opportunity and bring about a leapfrog
development.
It is equally essential, if not more,
to address the negative effects of economic globalization
and the side effects of scientific and technological advancement
and work real hard for common development and prosperity of
all members of society. To this end, the whole world should
join hands to ensure that all nations enjoy the benefits of
scientific and technological progress, economic globalization
and the New Economy through full participation and cooperation.
The Asia-Pacific region achieved great
economic progress in the last century, playing an important
role in boosting regional and global economic development.
This is attributable to the concerted endeavor, closer cooperation,
pioneering work and enterprising spirit of APEC members and
all other economies in the region.
In the new century, the Asia-Pacific
economic development is faced with both opportunities and
challenges. The region-wide and world economic slowdown and,
particularly, the September 11 attacks have added to the difficulties
and uncertainties of our regional economy. Having said that,
I wish to stress that in the long run, the Asia-Pacific economic
prospect is broad and bright.
As long as we seize the opportunities
brought by economic globalization and scientific and technological
revolution, stick to open regionalism, enhance regional cooperation
and adopt strong macro-economic measures to speed up restructuring,
we will be able to overcome difficulties and open up new dimensions
for growth and prosperity in our region. We have full confidence
in that.
The theme of APEC 2001 is so designed
as to reflect this historical need.
If we are to promote the development
of a multilateral trading system and promote greater openness
of our region, we must strengthen trade and investment liberalization.
If we are to ensure that all APEC members
benefit from economic globalization and the New Economy, we
must enhance capacity building to open up opportunities for
future development.
If we are to create a sound environment
for regional economic development, we must have dialogue on
financial policies.
That is why "Achieving common prosperity
through participation and cooperation" has been made
the theme of APEC 2001.
The APEC Business Advisory Council (ABAC),
the most important organization representing APEC business
community, has since its inception put forward a series of
constructive ideas and recommendations concerning the two
main areas of APEC cooperation -- Trade and investment liberalization
and Ecotech.
Many of them have been endorsed by our
leaders and have been put into practice, becoming a catalyst
of the APEC process. ABAC has served as an easily accessible
and interactive bridge between business and government and
set a fine example of cooperation between government and the
business community.
The ABAC Report 2001 to APEC Leaders,
which is entitled "Common Development through Market
Opening, Capacity Building and Full Participation", tallies
well with the theme of APEC 2001. The Report contains many
constructive ideas and suggestions on trade and investment
liberalization and facilitation, human capacity building,
financial cooperation, SME development and Ecotech. I am sure
that they will be carefully considered by our leaders and
implemented in real earnest, once adopted.
With your permission, I would like to
make some personal observations about what should be the priorities
of ABAC in the years to come.
Firstly, it is important that ABAC continues
to support SME development in the region. SMEs are a new force
of regional economic growth and technological innovation.
You may wish to offer some advice as to what should be done
to help SMEs more effectively with their technological innovation,
financing and corporate governance. You may also wish to take
some practical actions to help SMEs, which do need such help
and assistance.
Secondly, it is imperative that ABAC
helps to promote human resources development and capacity
building in the region. People of talent are the prime assets
that underpin the success of all undertakings. Without these
assets, there will no prosperity of a nation or enterprise
to speak of. Opportunities favor only those countries and
regions that have done a good job of human resources development.
In this connection, I sincerely hope that ABAC will play a
greater role in training and fostering talented men and women
who can stand up to the challenges of the new century.
Ladies and Gentlemen,
Friends,
China cannot develop in isolation of
the world, and the world cannot achieve global prosperity
without the development of China. China is an important member
of the Asia-Pacific and international community. Over the
past 20 years and more, China has maintained a sustained,
rapid and healthy economic development. An all-directional
opening-up pattern is basically up and running.
In the new century, we will continue
to adhere to our independent foreign policy of peace, which
is aimed at promoting world peace and stability, common growth
and prosperity. We will continue to develop friendly relations
and cooperation with the rest of the world on the basis of
equality, reciprocity and mutual benefit. And we will continue
to pursue the policy of opening-up, deepen the reform and
devote ourselves to economic development.
China's economy will converge with that
of the world faster with more solid strides. China's WTO entry
will open a new page for our economy. As we enjoy our WTO
rights, we will fulfill our obligations and honor our commitments.
We will accelerate the opening of the infrastructure sector,
such as energy, communications and telecommunications and
provide, step by step, more opportunities for foreign businesses
to invest in such areas as banking, insurance, tourism, retail
sales, foreign trade and legal consulting services. We will
improve our laws and regulations regarding foreign investment
and provide better services to overseas-funded ventures.
China's development and the process of
reform and opening-up augur well for trade and economic ties
between China and the rest of the world, particularly the
Asia-Pacific. Tremendous business opportunities in China are
awaiting all entrepreneurs who have the vision.
Ladies and Gentlemen,
Friends,
I do hope that all of you present here
and all other people who love peace and aspire development
will work together to build a lasting world peace and promote
growth and prosperity throughout the Asia-Pacific region.
To conclude, I wish to propose a toast
to the bright future of the Asia-Pacific region.
Thank you.
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