China Sets Ambitious Import Goal

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Last updated at: (Beijing Time) Monday, March 24, 2003

China Sets Ambitious Import Goal

China's imports in the next three years will reach one trillion US dollars, according to the estimate of China's new Minister of Commerce Lu Fuyuan.

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China's imports in the next three years will reach one trillion US dollars, according to the estimate of China's new Minister of Commerce Lu Fuyuan.

Speaking at the China Development Forum that opened here Sunday,Lu said the enormous amount of imports would bring about abundant opportunities for the world's business circles and compel the world's economic development.

The minister of the newly established government commerce body said China's market would maintain its potential in the next two decades.

In 2002, China registered an increased import of 51.7 billion US dollars. Imports from Asia rose by 29.3 percent, Lu said.

More than 34,000 foreign investment enterprises settled in China last year, a year-on-year increase of 30.7 percent. The majority of these enterprises reported healthy operation and benefited from the country's fast developing economy.

In addition, Lu said his ministry would adopt a more open strategy to promote foreign trade and create a favorable environment for foreign investors.

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