China launches international market annual reports

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Last updated at: (Beijing Time) Tuesday, December 30, 2003

China launches international market annual reports

The China Council for the Promotion of International Trade (CCPIT) launched its first international market annual reports Monday in Beijing.

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The China Council for the Promotion of International Trade (CCPIT) launched its first international market annual reports Monday.

The reports consist of three volumes on Australia, Canada and the Republic of Korea (ROK) respectively, with four parts in each volume, namely macroeconomic data, trade statistics, data on production and distribution, and foreign direct investment. The reports are distributed free of charge.

Wan Jifei, president of the CCPIT, said the three nations were important trade partners.

Wan said he hoped the reports would enhance commercial exchanges and cooperation between China and the three nations.

Alan Thomas, Australian ambassador to China, said the commercial relationship between China and Australia continued to show great vitality. Trade is now valued at over 19.97 billion Australian dollars (about 12 billion US dollars), growing at an annual rate of over 13.5 percent.

Similarly, investment linkages continue to expand vigorously and Australia remains the leading overseas investment destination for China, said Thomas.

He said the strength and good prospects of the Chinese economy are widely appreciated in Australia and the Australian people have shown great interests in seeking for Chinese business partners.

Kim Ha Joong, the ROK ambassador to China, said China has become the leading investment destination for the ROK. In the first 10 months this year, ROK investment in China reached 19 billion US dollars, while China's investment in the ROK was only 400 million to 500 million US dollars.

He appealed to the Chinese government to solve the problem of unbalanced investment and to encourage more Chinese entrepreneurs to invest in the ROK.

He hoped the reports would provide Chinese enterprises with more information to seek cooperative opportunities with the ROK and to develop the ROK market.

Yu Xiaodong, head of the economic information department of theCCPIT and deputy editor-in-chief of the report projects, said the reports were based on data from foreign institutions of China's target markets, with a focus on commodities.

The CCPIT will compile reports for the year of 2004 on countries including the United Arab Emirates, Hong Kong, Japan, Germany, France, the United States, Mexico, Britain, Italy, Australia, Canada, the ROK, Russia, Belgium, Singapore and India, Yu said.

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