Canada, China to further enhance bilateral cooperation

(Xinhua)
Updated: 2006-10-24 15:43

China's GDP had increased from around 216.5 billion U.S. dollars in 1978 to 2,230 billion U.S. dollars in 2005 at an average growth rate of 9.6 percent per year, he said, adding that the country's per-capita GDP had risen from 226 U.S. dollars to 1,700 U.S. dollars in the period.

However, he said China's economic achievements should not be overestimated.

China, with a population of 1.3 billion, had a weak economic foundation and unbalanced development, and remained the largest developing country in the world, he said.

"As our leaders have repeatedly said, any small, individual problem multiplied by 1.3 billion becomes a big, big problem. And any considerable amount of financial and material resources divided by 1.3 billion becomes a very low per capita level," He said.

Canada-China relations have witnessed a sound development in recent years. Canada was among the first Western nations to establish diplomatic ties with China in the 1970s.

According to Chinese statistics, two-way trade has increased by more than 100 times from 150 million U.S. dollars in 1970 to 19.17 billion U.S. dollars in 2005. China has become the second largest trading partner of Canada, only after the United States. Meanwhile, Canada is China's 10th largest trading partner.

In September 2006, during Chinese President Hu Jintao's visit to Canada, the leaders of the two countries agreed to upgrade the bilateral relationship to the strategic partnership.

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