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Minister Talk: Commerce Minister on commerce measures economic strength

2009-10-10 12:39 BJT

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China's current import and export volume total is about two-thousand times the figure of 60 years ago. The nation has also been playing a more and more important role in the global economy. In today's special series, "Minister Talk," Commerce Minister Chen Deming talks about how Chinese foreign trade has developed over the past six decades.

Foreign trade volume is one of the major measures of a country's economic strength. In 1950, China's foreign trade volume was just over one billion US dollars. In 2008, that figure increased to an astonishing 2560 billion. This change was not easy to achieve.

Commerce Minister Chen Deming said, "One reason for the accomplishments, I think, is that our country adopted the Reform & Opening-Up Policy. Frankly, we opened our market to the world and, in return, other nations opened their markets to us. Besides, our country is rich in labor resources, and our labor cost is relatively low. Our trade volume ranks among the top three nations in the world. During the first half of this year, we surpassed Germany to rank first in terms of export volume."

While doing business with other countries, China started to improve its investment environment.

For the past 17 years, China has attracted more foreign investment than any other developing country. Capital is flowing into areas ranging from textiles to high-tech industries.

Commerce Minister Chen Deming said, "Thanks to a healthy economic growth trend, good investment policies and services, as well as rich labor resources, the inflow of foreign investment is an inexorable trend. Meanwhile, products need markets. Foreign investors have recognized China as a huge potential market in the process of industrialization and urbanization."