Foreign trade volume likely to hit US$800b in 2003
( 2003-11-09 09:40) (Xinhua)
Foreign trade volume will surpass US$780 billion this year, and is likely to
reach US$800 billion, said Vice-Minister of Commerce Wei
Jianguo in Zhuhai Friday.
Wei delivered the forecast at a forum of the World Economic Development
Declaration Conference (WEDDC) held in Zhuhai, a coastal city in South China's
Guangdong Province.
According to Wei, China's total trade volume in the first three quarters of
this year has reached US$606.3 billion, increasing 36 percent year-on-year, in
which the import sector surged 41 percent to US$298.6 billion.
China became the sixth largest importer in the world last year, with total
imports at 300 billion dollars, said Wei.
In 2003, China's total trade volume will top US$780 billion, and may even hit
US$800 billion, the vice-minister said.
Wei said the fast economic growth in China has offered great business
opportunities to foreign investors. From January to September this year, China's
contracted foreign direct investment reached US$79.2 billion, a year-on-year
rise of 36 percent. The actually used foreign direct investment hit US$40.2
billion, up 12 percent.
Wei said China will further improve its investment environment in the future
by establishing a stable and transparent foreign economic management system and
improving the relevant laws and regulations for better legal
service.
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