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Last updated at: (Beijing Time) Friday, September 06, 2002

Finance Minister Briefs APEC Meeting on Chinese Economy

China's Finance Minister Xiang Huaicheng introduced China's current economic situation on September 5 at the 9th APEC Finance Ministers Meeting. He told the meeting that when a perfect macro regulatory mechanism is to be developed mammoth efforts will be made by China to push ahead with the country's reform in the way various chronic structural problems are solved and on good groundwork China's economy will be laid and developed.


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China's Finance Minister Xiang Huaicheng introduced China's current economic situation on September 5 at the 9th APEC Finance Ministers Meeting. He told the meeting that when a perfect macro regulatory mechanism is to be developed mammoth efforts will be made by China to push ahead with the country's reform in the way various chronic structural problems are solved and on good groundwork China's economy will be laid and developed.

The 9th APEC Finance Ministers Meeting was held in Los Cabos, Mexico in the morning of September 5, at which 21 financial ministers and representatives were represented for a discussion of global and regional macro economies and financial trend.

Xiang said that China has kept up a good momentum in economy fulfilling 2001/2002 GDP targets up 7.3& and 7.8% respectively. This year China's economic growth is expected to be on rise over last year.

Xiang said that China's economic growth has been benefited from a series of macro policies and reform measures aiming at expanding domestic demand since 1998.

Xiang said that China's entry to the WTO caters to global development trend and the need for a further restructuring of the Chinese economy.

The Chinese government has made persistent effort to strictly honor its WTO commitments and go in for greater opening up in the fields of commodities, services and investment, seeing to it that all rules and regulations governing market operations tally with WTO rules.

He said that people around the world must be assured of a gradual integration of the Chinese economy with that of the world after its WTO accession. Undoubtedly China's sustainable economic advance and opening up will further help a growth of economies on an Asia Pacific and global scale.

By PD Online Staff Li Yan




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