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| Vice Minister Liao Xiaoqi Delivered a Speech at Summit Meeting on Regulating Restructure of State-owned Enterprises and Property Right Transaction |
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| 2005-09-15 09:09 MOFCOM |
Liao Xiaoqi, Vice Minister of Commerce, attended the summit meeting on regulating restructure of state-owned enterprises and property right transaction and delivered a speech on September 9.
We are here to attend the summit meeting on regulating restructure of state-owned enterprises and property right transaction in the golden season in Xiamen. On behalf of the Ministry of Commerce, I extend our warm welcome and sincere greetings to our guests and friends. The forum is an important content of the 9th China International Investment and Trade Fair & Asia-Europe Trade and Investment Expo. We hope representatives can speak freely on regulating restructure of state-owned enterprises and property right transaction through this platform, enhance exchange and promote cooperation.
China has obtained great achievements in the reform and opening-up for 27 years, which attract world-wide attention. China actually used foreign investment of US$60.6 billion in 2004, up by 13.32% on an annual basis. There are 533 thousand foreign invested enterprises by the end of July, 2005, with total actual use of foreign investment of US$595.2 billion. And there are over 190 countries and regions invested in China, 450 transnational companies among top 500 invested in China.
China's foreign trade has made great achievements as well. In the three years after entry into the WTO, import and export value doubled. Total import and export in 2004 amounted to US$1154.8 billion, ranking 3rd in the global list. Total import and export in January through July, 2005 was US$765.9 billion, up by 22.8%.
Actively promotion of restructure of state-owned enterprises, establishment of and modern enterprise system & enterprises operation mechanism suitable for socialist market economy are important for a perfect socialist market economy system.
After entry into the WTO, China has opened up further; Chinese enterprises must establish modern enterprises system in the fierce international market competition, restructure in the opening-up and establish development strategy in cooperation.
Proper use of foreign investment is an effective way for restructure of state-owned enterprises. In this way, state enterprises can make property rights diversified, capital optimized, mechanism created and technology upgraded, and survive and develop in the fierce international market competition with the help of transnational companies' advantages of technology, management, capital, human resource and market network. Meanwhile, restructure of state-owned enterprises and property right transaction provides good opportunity for transnational companies to develop in China. They will achieve their goal of win-win and common development, through cooperation with complementary advantages and mutual benefit.
Currently, China is under an important developing period. We have made clear our goal to build well-off society in the first 20 years of 21st century. China is implementing the strategy of West Development and Rejuvenation of the Old Industrial Base in Northeast, which brings good opportunity for foreign enterprises to invest in China. We welcome foreign enterprises to investigate and search for investment and cooperation in central and west of China, and the old industrial base in northeast.
In order to protect orderly cooperation, fair competition and legal rights between foreign invested and domestic enterprises, we accord with commitment when entering into the WTO and need of national economy development, to perfect legal system and policy on attracting foreign investment, improve management and service for foreign invested enterprises, and create a more open, fair and transparent business environment.
It is an important task for us to further promote restructure of state-owned enterprises and adjustment of strategy. I sincerely hope that we can take this opportunity to fully exchange and communication, propose for Chinese enterprises to restructure in opening-up and develop in restructuring; and hope to enhance cooperation between foreign and domestic enterprises.
Finally, wish the forum a success.
(Source: Network Center of MOFCOM)
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