Greater opportunities are yet to come

The world should increase its understanding of China and watch for further opportunities brought by the nation's economic development, a Chinese leader said yesterday.

Chinese Vice-President Xi Jinping said the world should also note new ideas for scientific development in China and further promote the economic and trade exchanges in order to achieve mutual benefits and development.

Xi made the remarks at the opening ceremony of the 18th Asian Corporate Conference in Tianjin, a port city in North China.

The three-day business forum titled "A New Era for Global Business: Sustainable Growth for China and the World" is organized by the Asia Society, a global organization committed to strengthening relationships and promoting understanding among the people, leaders and institutions of Asia and the United States.

Xi said the theme of the forum "fits with the trend of deepening economic globalization and the reality of the economic growth in China and Asia as a whole".

China has attached great importance to sustainable development in recent years and views it as a key to solve other problems, Xi added.

China's economy is now world's fourth largest as its share of the global economy surpassed 10 percent last year, the vice-president said.

But current economic model in China has strained resources and the environment, Xi said.

Xi said China is now striving to build a resource-saving and environmentally friendly economy - and has made some progress.

"I hope the forum will achieve fruitful results in this regard and provide insights and substantial experience to countries around the world in terms of sustainable development models," Xi said.

"As an organization dedicated to developing three-dimensional relations with China and Asia in economic, cultural and personal ties, we are thrilled to come back to China again," said Vishakha N. Desai, president of the Asia Society, noting that the last such conference held in China was in Shanghai in 2000.

"We are delighted to host the conference in Tianjin, the next emerging hub and focus of the Chinese central government's third wave of economic development," said the president of the US-based Asia Society.

She added the conference will seek to better understand the opportunities and challenges in China's economic development and to examine strategic models of sustainable development.

The three-day conference will serve as a bridge through which the host city of Tianjin can reach out to the outside world, Huang Xingguo, mayor of Tianjin said.

"The conference presents the world a window to learn about Tianjin, a city that aims to build itself into an international shipping hub, an economic center in North China and an ecological metropolis," the mayor said.

(China Daily 05/29/2008 page21)