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China to provide impetus for world economy- Vice premier
March 25, 2013, 9:01 am

Financial buildings in Hong Kong, China. [Xinhua]

Financial buildings in Hong Kong, China [Xinhua]

The development of China will provide more opportunities and stronger impetus for the world economy, says Chinese vice premier Zhang Gaoli.

“China will provide an opportunity for foreign enterprises to compete in an equitable environment and share the benefits stemming from China’s growth,” according to Zhang.

Zhang was speaking at the China Development Forum in Beijing – a business platform attended by China’s top decision makers and economic planners.

“Deepening China’s reform and opening up for building a better-off society,” was the theme of this year’s forum.

China aims to fulfill the building of a moderately prosperous society by 2020, said Zhang.

“China will then provide more opportunities, greater impetus and make new contributions to global economic growth,” he said.

In 2012, the country attracted a total of $111.72 billion in foreign direct investment (FDI).

Total trade volume reached $3.87 trillion, up 6.2 per cent from a year earlier.

He emphasised that the policy of reform and opening up is the only way for developing socialism with Chinese characteristics.

“China’s practices have demonstrated that reform and opening up is the fundamental impetus for the country’s social and economic development,” Zhang said.

China remains the world’s top destination for foreign investments as the country still holds many competitive edges, according to a research report jointly released on Sunday by China Development Research Foundation and PricewaterhouseCoopers (PwC).

The China Development Forum was initiated in 2000 by the Development Research Centre of the State Council, China’s Cabinet.