China role in recovery firm

Updated: 2012-05-29 11:23

By Li Xiaokun (China Daily)

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China has sent the world a strong signal of its commitment to push forward the global economic recovery and free trade by holding a large services trade fair amid the global economic slump, the director-general of the World Trade Organization said on Monday.

Pascal Lamy made the remarks as he met Premier Wen Jiabao on the sidelines of the opening ceremony of the first Beijing International Fair for Trade in Service.

"Lamy said that by holding the Beijing Fair, China is sending a strong signal to the world about its commitment to pushing forward the global economic recovery and supporting the process of trade liberalization, and its persistence in reform and opening up," the Foreign Ministry said in a press release issued after the talks.

The world is happy to see China taking a leading role in pushing forward service trade, Lamy said.

Reuters quoted Lamy as saying on Monday that China's milestone entry into the WTO in 2001 and the ensuing stable global trade environment had contributed to the country's economic success over the past decade.

Wen told Lamy the Beijing Fair is a reflection of China's belief in opening up and cooperation, and putting that belief into action.

The world should work harder at promoting free trade, especially during this difficult time for the global economy, Wen said, noting that it would benefit the economy and create jobs.

At the opening ceremony of the fair, the premier called for an increased opening up in China's service sector and encouraged local service providers to go global to boost the industry's share in foreign trade.

China's service sector attracted $55.2 billion in foreign investment in 2011, overtaking the manufacturing industry for the first time.

In terms of service trade volume, China currently ranks fourth in the world, with $419.1 billion in 2011.

Over the coming five years, the value of China's services imports will top $1.25 trillion, Wen said.

Hosted by the Ministry of Commerce and the Beijing municipal government, the first Beijing Fair, akin to China's major commodities fair, the Canton Fair, attracted more than 22,000 service providers from 82 countries and regions to foster trade in the sector for the coming five days. It will become an annual event.

Wen on Monday also met leaders of other countries who were in the Chinese capital to attend the fair.

lixiaokun@chinadaily.com.cn

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