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Hu: China, Asia becoming new growth engine for world
(Xinhua)
Updated: 2005-05-16 20:12 Chinese President Hu Jintao
said Monday that with surging economic globalization, China and Asia are quickly
becoming a new growth engine for the world while the global boom is also
generating more important opportunities for China and Asia.
Hu made the remarks in an address delivered at the opening ceremony of the
2005 Fortune Global Forum held in China's capital of Beijing.
"Continued mutually-beneficial economic cooperation and rising
interdependence among the world's countries will usher in an even better future
for global economy in development," said Chinese President.
The Chinese people have made a major contribution to human progress by
creating the splendid Chinese civilization with hard work and ingenuity, said
Hu.
Since 1949, when the New China was proclaimed, and particularlysince the
implementation of reform and opening-up program pioneered by Deng Xiaoping in
1978, China has undergone a profound transformation never seen in the country
before. In a short span of 26 years from 1978 to 2004, China's GDP increased
from 147.3 billion US dollars to 1.6494 trillion US dollars with an average
annual growth rate of 9.4 percent.
Its foreign trade rose from 20.6 billion US dollars to 1.1548 trillion US
dollars, averaging an annual growth rate of over 16 percent. China's foreign
exchange reserve increased from 167 million US dollars to 609.9 billion US
dollars.
The number of rural poor has dwindled from some 250 million to 26 million.
The overall national strength of China has increased remarkably and the texture
of life of its people improved steadily.
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