Overseas Chinese entrepreneurs have made great contribution to economy of the countries they are living in, a senior Chinese official said on Monday.

By participating aggressively in the local economic development,overseas Chinese have benefit from and at the same time help promote the economic development of the host country, Huang Mengfu,vice-chairman of the Chinese People's Political Consultative Conference, said at the on-going 7th World Chinese Entrepreneurs Convention here.

With the massive increment of properties managed by overseas Chinese entrepreneurs, jobs opportunities also increase in variouscountries, thus benefiting both the governments and local residents, said Huang who is also chairman of All-China Federationof Industry and Commerce.

Overseas Chinese entrepreneurs' business activities have promoted international capital flows, thus becoming an important force in the economic growth and business prosperity to the countries they are living in, he said, adding business operations of the overseas Chinese entrepreneurs have been actively promotingeconomic interaction with other countries.

The 7th World Chinese Entrepreneurs Convention, organized by the Associated Chinese Chambers of Commerce and Industry of Malaysia, is attended by some 3,200 overseas Chinese businessmen all over the world.

The biennial convention was first held in 1991 as an international forum for Chinese entrepreneurs all over the world to meet and deliberate on important issues affecting global trade,industry and economy in general.

The previous six conventions have been successfully held in Singapore (1991), Hong Kong (1993), Bangkok (1995), Toronto (1997),Sydney (1999) and Nanjing (2001).

(Xinhua News Agency July 29, 2003)