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State Councillor Wu Yi said yesterday she is optimistic that China
will achieve its goal in imports and exports set in the ninth Five-Year
Plan (1996-2000).
"It is very likely that we will hit the set target for foreign
trade set for the ninth Five-Year Plan, US$400 billion. What we
should do now is to try our best to reach the goal ahead of schedule,"
said Wu, a former trade minister.
Trying to attract more foreign investment and making better use
of the funds lies at the center of foreign trade and economic co-operation
work for the rest of this year, Wu said.
The drop in the amount of used foreign capital should slow down
and should be maintained at last year's level, she said.
The actual amount of foreign capital used in the first six months
of this year decreased 7.5 percent from the same period last year
to US$17.2 billion, according to statistics from the General Administration
of Customs.
Analysts said it is a good sign that the drop has slowed from last
year.
The amount of contracted foreign capital rose 24.6 percent from
the first half of last year.
China approved the establishment of 10,101 foreign-invested ventures
in the first half of this year.
Wu said the satisfying results in China's foreign trade and economic
co-operation were achieved on the back of the country's overall
economic boom.
China's gross domestic product rose 8.2 percent in the first half
of this year, according to the National Administration of Statistics.
Booming foreign trade and economic co-operation also spurred a rise
in the country's economic development, Wu said.
Customs statistics indicate that China's exports rose a strong 38.3
percent in the first half of this year when compared to the same
period last year.
(China Daily 07/15/2000)
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