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Home >> Business
UPDATED: 14:30, June 25, 2004
UNESCAP report: China "main engine of growth"
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China has played a crucial role in the development of the entire Asian-Pacific region, according to a report by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).

The ESCAP, which is in its 60th session here, said in a report that "China's remarkable performance has been central in sustaining the momentum of growth in the Asian-Pacific region."

The report, "Economic and Social Survey of Asia and the Pacific2004, "described China as the "main engine of growth" as well as the "locomotive" of the region.

Kim Hak-Su, executive secretary of the ESCAP, agreed with this evaluation on China. He noted that China is playing an increasingly important role in regional trade and China's neighbors in the Asian-Pacific region have held a positive view onachieving common development with China in future.

In the next 20 years, the Asia-Pacific region will become the economic center of the world, Kim told Xinhua, acknowledging that especially China will become "economic powerhouse" at that time.

Chang Kyun-Sik, a member of the delegation from the Republic ofKorea (ROK) and director of the ROK International Cooperation Agency, said China will become a "great power" in the regional andglobal economic growth.

The Chinese government has taken "skillful" and "wise" policy to develop its economy, and all Asian-Pacific nations should sharethis successful experience and achieve common development, he added.

According to the latest statistics of the World Trade Organization, China's import volume surged from the sixth rank to the third rank in the world last year, and is likely to become thelargest importer in Asia in 2005.

Source: Xinhua

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