Wu Yi said at the conference that in 2004 the national commercial system were earnest to implement various policies of Central Party Committee and State Council, made efforts to settle down unfavorable factors and overcome difficulties and obtained great success. Foreign Trade achieved a historical breakthrough and imports and exports exceeded US$1 trillion, becoming the third country in the world with foreign trade of over US$1 trillion. Competitiveness of attracting foreign investment was enhanced and it was predicted that the actual use of foreign investment would be more than US$60 billion.
Wu Yi pointed out that our commercial departments should implement the spirit of economic work, go on deepening reform of distribution system, guiding and expanding consumption, fostering new consumption products, especially, endeavoring to expand rural market. She emphasized that we should expedite to transform trade growth modes, keep optimizing trade structure, push diversification of trade forms and market, make efforts to realize trade balance and maintain a reasonable growth in exports; Should perfect forms of foreign investment attraction, introduce advanced technology, attach importance to innovation, go on upgrading the quality and level of absorbing foreign investment; Should enhance the protection of intellectual property rights of foreign investors and enterprises; Should implement "Go out" strategy, improve the capacity of dealing with trade frictions, do a better job in foreign assistance, continue deepening multilateral trade and economic relations and regional economic cooperation, fulfill better CEPA and its complementary agreements.
Wu Yi stressed that starting from 2005, China would enter into the Later Stage of the Transitional Period after its accession to the WTO, it would further open up to the outside, which would obviously help a further influence on Chinese economy and China would face another vital test. All the Regions and department should be prepared to cope with issued in a long run, speed up working out and implementing effective measures, and maintain security of relative industries on the basis of summarizing the experiences in 3 years after the entry into WTO.
(Information by Network Center of MOFCOM)