On April 23, Liao Xiaoqi, Vice Minister of Commerce, attended the Boao Forum for Asia. In his speech on the symposium dialogue at senior ministerial level: challenge of the world economic growth, Mr. Liao Xiaoqi pointed out that whether each country could understand and deal with economic globalization properly was an important reason why the world economic growth was unbalanced. He believed that China went along with the historical tide of economic globalization, regarded opening up to the outside world as the basic state policy, and obtained great achievements, which attracted worldwide attention. In the future, with the expanding of China's economy, the positive role of China to world economic development would be more remarkable.
Mr. Liao Xiaoqi pointed out that the economic globalization was an essential attribute of world economic development. The economic globalization was a double-edged sword to the countries all over the world; the more important thing was how to deal with it properly.
Mr. Liao Xiaoqi believed that the world economic growth needed joint efforts of developed countries and developing countries. The developed countries should end off agriculture subsidy that twisted world trade seriously, cancelled structural prohibitory duty for developing countries, avoided technical trade measures to result in barrier to world trade, and provided necessary capital and technical support for improving trade and economic development of developing countries. Developing countries should shift notions, open the domestic market progressively, protect the IPR conscientiously, especially avoid setting up the barrier to export and economic development of other developing countries.
Mr. Liao Xiaoqi reviewed in his speech the achievements since 1978 when China opened up to the outside world, we actively and effectively cope with the opportunity and challenge that the economic globalization brought. He pointed out that compared with experiences of other countries of economic globalization, there was both generality and uniqueness in success of China. From national conditions of China, steadily promote reform of economic system, realize transition from the planned economy to the market economic system successfully, provide effective system assurance for participating in the economic globalization; regard science and technology as the primary productive force, implement the strategy of rejuvenating China through science and technology, attach importance to education and talents, provide the human resource support to strengthen the international competitiveness constantly; endeavor to develop foreign trade, introduce foreign capital and advanced technology actively. From 1978 to 2004, total trade value of China increases by 55 times, annual average growth up by 16%, absorbing more than US$ 550 billion of direct foreign investments totally, introducing more than US$ 200 billion of foreign advanced technology totally; Insist on utilizing the direct foreign investments, open the domestic capital market actively and reliably, control the risk of opening to the outside world effectively, and avoid the financial disturbances that frequently take place in some developing countries.
Liao Xiaoqi said that compared with many countries with sharp development in economy in history, China’s opening of economic development was widely, especially in the liberalization of trade and domestic market, developing commonly and winning together on the equal and mutually beneficial basis with the countries all over the world. Only in 3 years after joining the WTO, China imported commodities about US$ 12 thousand. China absorbed the direct foreign investments to bring good economic benefits to investment countries, and promoted the industry structural adjustment and upgrade of these countries. With the implementation of Going Global strategy, investment of China to foreign countries is expanding constantly, it is already up to US$ 37 billion, and China begins to make capital contribution for development of the international economy. China will implement the basic state policy of reform and opening up firmly in the future, continue participating in the process of the economic globalization actively, and develop commonly on the equal and mutually beneficial basis with the countries all over the world. With the expanding of China's economy, China’s positive role for the world economic development will be more remarkable.
Challenge of the world economic growth is one of important topics of 2005 annual meeting of Boao Forum for Asia, 6 high ranking officials of Governor of the People's Bank of China Zhou Xiaochuan, and former Vice Premier of Malaysia participated in the forum.
Zhou Xiaochuan said that the question of Asian financial disturbance had been overcome basically, but not all problems had been solved completely. So the economic development in Asian area should pay attention to adjusting constantly in advancing, avoiding accumulating problems overly.
While mentioning the Asian economic mode in future, Zeng Yinquan, Chief Executive of the Hong Kong SAR of the PRC said that the unification of the currency could help Asia to achieve unification. The problem that we really face in Asian economy was whether we could set up internal growth factor, not depend on export.
Zheng Bijian, Director of Forum of China's reform and opening up pointed out that China's rise was the rise of the big market with 1.3 billion to 1.5 billion people. Such a large market that was increasing constantly and opening day by day was new opportunities for both Asia and the world.