Chinese Vice Premier Huang Ju said he hoped to cooperate with other economies during the two-day World Industrial and Commercial Organization Summit, which ended in Beijing Monday.

Huang made the remarks at the opening ceremony, Sunday.

Huang said the world is changing profoundly and only through cooperation will globalization benefit all countries. This will give all countries the chance to seize the opportunities presented by the scientific and technological revolution, Huang said.

Huang also briefed the delegates on the economic situation in China.

He said, during the past 26 years, China has made sustainable and rapid economic growth, substantial enhancement of its overall national strength and marked improvement of its people's livelihood.

In response to the outstanding economic problems, China has passed macro-economic control measures beginning last year. The measures have kept the economy from over-heating, but allowed it to continue its steady, fast growth, he said.

The first 20 years of this century represent a critical period for China's economic and social development.

"We will remain committed to a human-oriented scientific approach to development that stresses on comprehensive, coordinated and sustainable growth. We will wholeheartedly focus on development, continue to deepen reforms on all fronts, and put in place an even more open economic architecture," he said.

He said that China will continue to develop at a rate of seven percent a year. The Chinese government warmly welcomes international entrepreneurs and investors, he said.

The Chinese government gives much weight to nurturing and developing the industrial and commercial associations and values their important role in the economy and will accelerate the legislative efforts relating to these associations, he said.

Some 500 representatives from more than 70 countries and regions, 300 industries and commercial organizations and 80 enterprises participated in the summit. The theme of the WICO was dialogue, negotiation and cooperation.

Source: Xinhua