Premier Wen Jiabao announced Sunday in Guangzhou that the 50-year-old Chinese Export Commodities Fair will change its name to the Chinese Import and Export Commodities Fair from next session.
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The fair, also known as Canton Fair, has been a biannual event held in spring and autumn since 1957. Wen said it will take the new name in the 101 session.
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The move aims to expand China's import and pushes for the balanced development of China's foreign trade, said Wen.
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He said China will resolutely implement the opening-up policy and encourage Chinese companies to invest abroad and also welcome foreign companies to invest in China.
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China will perfect its economic rules and laws concerning foreign business, continue to improve the intellectual property rights protection, and create a fair environment for all the companies, he said.
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Wen said that the Canton Fair is a showcase of China's reform and opening up drive and the country can not develop without cooperation with the rest of the world.
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He said the fair is in the need of China's opening up drive and is an important part of China's "win-win" strategy.
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He pointed out that the country is to be abided by the regulations of the World Trade Organization and be active in participating in building? the global multilateral trade mechanism.
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China will make efforts to absorb advanced technology and management expertise from foreign countries, and learn from all the achievements of the mankind.

(Xinhua News Agency October 16, 2006)