DATE=5/10/2000
TYPE=CORRESPONDENT REPORT
TITLE=CHINA-WTO (L ONLY)
NUMBER=2-262187
BYLINE=ROGER WILKISON
DATELINE=SHANGHAI
CONTENT=
VOICED AT:
INTRO: Chinese Premier Zhu Rongji says the process of
his country's entry into the World Trade Organization
(W-T-O) is picking up speed and will give Beijing an
opportunity to further open up its economy. V-O-A
correspondent Roger Wilkison reports Mr. Zhu told a
group of business executives and government officials
in Shanghai Wednesday that China's average economic
growth rate over the next 10 years will be around
seven percent.
TEXT: With a crucial vote in the U-S Congress on a
Sino-US trade pact due later this month, and with
negotiations between China and the European Union on
Beijing's accession to the W-T-O scheduled to resume
next week, Premier Zhu appears to be optimistic about
China's future membership in the global trade group.
The man foreign businessmen describe as the architect
of China's modern economy says his country's entry
into the W-T-O will accelerate Beijing's opening of
its energy, transportation and telecommunications
sectors to foreign competition.
Mr. Zhu also promises to open up China's service
sector -- including banking and insurance -- to
foreign firms.
Speaking through an interpreter at an Asia Society
meeting in Shanghai, Mr. Zhu says China will soon
modify its foreign investment laws to bring them into
line with the requirements of W-T-O membership.
/// INTERPRETER ACT ///
We will review and, if necessary, amend the
existing foreign-related laws and regulations in
light of the requirements of W-T-O rules and set
up an economic and trade system that is
consistent with both international practice and
our national conditions at an early date.
/// END ACT ///
The Chinese premier is also making a pitch for more
foreign investment in his country as its people grow
more prosperous and the pace of modernization
increases.
/// INTERPRETER ACT ///
The improved living standards of over one-
billion Chinese people and the upgrading of
their consumption pattern will definitely create
mammoth consumer demand. And the massive
infrastructure construction, the upgrading of
the industrial structure and the vigorous
development of China's West will certainly push
up phenomenal investment demands.
/// END ACT ///
Mr. Zhu predicts that China will register average
annual gross domestic product growth of seven percent
over the next decade. And he says fixed investment
will grow by 10 percent a year over the same period.
Mr. Zhu made no mention of the upcoming vote in the U-
S House of Representatives, which must grant China
permanent trading status if U-S firms are to enjoy the
benefits of a market opening Sino-U-S trade pact
signed last year. U-S diplomats say they hope the
House will approve the agreement, but acknowledge that
the vote will be close. (Signed)
NEB/RW/JP
10-May-2000 10:42 AM EDT (10-May-2000 1442 UTC)
NNNN
Source: Voice of America
.
|
NEWSLETTER
|
|
Join the GlobalSecurity.org mailing list
|
|
|
