China to import US$1,000b of goods, services in three years
( 2003-09-25 16:29) (Xinhua)
China will import some 1,000 billion US dollars of goods and services in the
coming three years and the import market will expand much wider, a senior
Chinese trade official said Thursday morning.
Wei Jianguo, vice minister of commerce, gave the forecast at the third
session on Pan-Yellow Sea economic and technical exchange between China, Japan
and the Republic of Korea (ROK), held in Weihai city, east China's Shandong
Province.
"China will open its market and industries much wider to the outside world
step by step according to its commitment to the World Trade Organization," Wei
said, adding that China's process to cut tariffs and gradually lift non-tariff
barriers was going " smoothly".
He said China would continue to keep stable its policies on attracting
foreign investment and create a much better environment for overseas
investors.
Wei said, however, that imbalance still exists in China's trade with Japan
and the ROK, from which China's annual imports far exceed its exports.
He urged the three countries to establish a "reasonable" flow of resources
and products, saying the transfer of technology in high-tech industries to China
by Japanese and Korean companies would help to expand multilateral trade in a
"more balanced way".
"Closer economic and trade cooperation between us will benefit Japan and the
ROK first," he said.
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