Chinese Premier Wen Jiabao said Thursday in Brussels that China has at present entered the upward leg of another growth cycle, generating enormous business opportunities for business communities of the European Union.

Last year, with a gross domestic product (GDP) growth of 9.1 percent, China became the world's fourth largest trader and third largest importer, said Wen at the China-EU Investment and Trade Forum held here.

"In the first quarter this year, our economy reported a 9.7-percent growth rate. It is estimated that by the year 2010, China's GDP would top 4 trillion US dollars, with annual imports amounting to 1 trillion dollars," Wen said.

"The rapid development of China's eastern coast, the advancement of China's westward development strategy, the rejuvenation of Northeast China and other old industrial bases, and the 2008 Beijing Olympics and Shanghai World Expo 2010 would generate immense opportunities for the business communities of the European Union," he added.

Moreover, China-EU relations are at a fresh starting line, with a great deal to build on and even more to look forward to, the premier said.

"A truly wise man is apt at seizing opportunities rather than simply working out plans," he said, quoting a Chinese adage.

He also expressed his belief that EU businessmen would not let go the good opportunities and would strive to develop economic and trade cooperation with China.