Ladies and Gentlemen, Friends,
This year, the Chinese economy has maintained a steady performance overall, with major indicators running within a proper range. China’s GDP expanded by 6.2% in the first three quarters, one of the fastest among the major economies. We are well on track to achieve the annual targets for economic and social development. In the face of notably slowing global growth, the Chinese economy has shown strong resilience. It has sustained steady growth from a large base and achieved relatively full employment, demonstrating China’s continuous development and progress.
For years, China has been in deficit in its trade with the ROK and Japan, to the tune of US$160 billion in goods and services trade last year. Yet China will not resort to protectionism because of such deficits. China will not waver in its commitment to opening-up. Instead of closing our door, we will open it even wider. We are fostering a world-class, market-oriented business environment governed by a sound legal framework, where companies under all types of ownership are treated as equals and infringements on intellectual property rights are severely dealt with.
Having fully opened up its manufacturing sector, China will accelerate the opening of the services sectors and allow wholly foreign-owned companies into more sectors. I am confident that with the Foreign Investment Law and its supporting regulations taking effect on January 1 next year, China’s investment environment will become fairer and more transparent and predictable.
China will work with the ROK and Japan to harness our respective strengths and expand cooperation in line with market principles to make the pie of our converging interests bigger. Companies from the ROK and Japan are welcome to seize the business opportunities in China’s opening-up and strive for greater win-win results for us all.
Ladies and Gentlemen,Friends,
Businesses are the main player in the mutually beneficial cooperation among our three countries, and it is the job of the governments to nurture an enabling environment for them to deepen cooperation. As the word "cheng” means "getting things done" and "du" means "capital," so "Chengdu" can be translated into "capital of success." I wish all the business leaders here every success in your business deals and projects here, and indeed, in all your endeavors. Your success augurs well for our efforts to raise the trilateral cooperation to a new level.