China plays important role in APEC economic development

Updated: 2006-11-17 20:06

HANOI -- China is making greater contribution to the rapid and stable economic development in the Asia-Pacific region and the world at large, a local official told Xinhua Friday.

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"With the current trend, China's role in the international economic development is increasing," Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc said on the sidelines of the Asia-Pacific Economic Cooperation (APEC)'s Chief Executive Officer (CEO) Summit.

China, one of the biggest markets and the leading exporters in the world, has accumulated enough necessary potential for its development, and tried to become the number-one investor in important fields like high technology, said Loc, who is also the chairman of the APEC CEO Summit 2006.

Over 1,000 delegates are attending the CEO Summit with the theme "Toward one Community: Creating new opportunities for shared development."

They are focusing their discussions on challenges for APEC, the world economy today, the opportunities and the threats, bridging the development gap within the Asia-Pacific, and competing for foreign direct investment.

Loc said in the context of China's rapid development, more and more big economic groups are being established in the country. " The lesson from China's economic development is of significance to developing countries, especially in ensuring both economic growth and environmental protection."

The countries, including Vietnam, can learn China's experiences in dealing with problems in their economic development process, and adjusting policies to suit new development trends, because they are now encountering obstacles that China has done, Loc said.

Besides, China's development orientations shown in the speech by Chinese President Hu Jintao at the two-day summit starting on Friday is suggestions for other economies on harmonizing economic growth with environment protection and settlement of social issues, Loc said, adding that such directions can facilitate enterprises' healthy competition.

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