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CHINA’S OPENING UP AND A WIN-FOR-ALL WORLD
Since the late 1970s, China has been adhering to the policy of deepening reform and opening up to the outside world, remarkable achievements have been made in its economic and social development. China’s GDP has been growing at 9.67% on an average annual basis from 1978 to 2006, far beyond the world annual growth rate of 3.3%. China’s total economic volume has jumped to the 4th place in the world, the overall national strength has been greatly enhanced and the international standing has been greatly upgraded.
With more than two decades’ efforts, China has set up a basic pattern for its all-directional opening up and established trade and economic relations with more than 220 countries and regions in the world. China has become the third largest trading country since 2004 and the largest foreign direct investment recipient among the developing countries for 14 consecutive years. The achievements fully prove that China’s favorable investment environment is extensively recognized by the international community.
Along with “Attracting Investment”, the Chinese Government encourages and supports Chinese companies “To Go Global”, investing overseas in compliance with the international laws and regulations, conducting overseas engineering contracting and labor cooperation. Chinese companies have improved their competence after over two decades’ “Going Global”. Some have established their own global production and marketing networks, developed into big companies or groups with well-know brands, self-owned intellectual property rights, well-established main business and strong core competitiveness and have taken shape of becoming a multinational corporation. By the end of 2006, 10,673 Chinese-invested enterprises had been set up in 163 countries and regions with accumulated direct Chinese investment of 73.33 billion USD. By the end of June, 2007, Chinese overseas engineering contracting business pervades over 180 countries and regions with completed turnover amounting to 182.2 billion USD. There are 46 Chinese enterprises ranking among world’s largest 225 contractors.
While striving to achieve sustainable national economic development, the Chinese Government has been providing its utmost assistance to numerous friendly developing countries for more than 5 decades in the spirit of equality and mutual benefit. By the end of Year 2006, the Chinese Government has extended its assistance to 160 countries and regional organizations, undertaken more than 2,000 complete plant projects, dispatched technicians up to 550,000 persons-times, and provided a big quantity of goods and certain amount of cash. China’s sincere assistance to numerous developing countries has won extensive appreciation of the recipient countries and the international community.
Although the Philippines is not a traditional recipient country of Chinese official assistance, the Chinese Government began to donate goods of various kinds on irregular basis to the Philippine Government since Year 1984 in a bid to express the friendly sentiments of the Chinese Government and people to the Philippine Government and people. Over the past several years, the Chinese Government has steadily increased assistance to the Philippine. China-Philippine Agro-tech Center, financed with the grant of the Chinese Government, was established and put into use in Year 2003. Up till now, a great number of Philippine agricultural technicians have been trained at the center, as a result of which tremendous contribution has been made to the Philippine agriculture.
The Philippines is a natural disaster-stricken country, the Chinese Government have hence donated 6 million USD worth of humanitarian goods and cash since Year 2000 to relieve the affected Filipinos of natural disasters. The donation includes: (1) The Chinese Government provided 250, 000 US dollars in cash and 800,000 US dollars worth of materials for disaster relief and reconstruction in response to the landslide disaster in Leyte in February 2006. (2) The Chinese Government provided 600, 000 US dollars worth of goods, 200,000 US dollars in cash and 800,000 US dollars worth of materials respectively in response to 3 devastating typhoons in the 2nd of Year 2006. (3) The Chinese Government provided 2 million US dollars worth of materials in response to the oil spill incident near Giuimaras Island in May 2006.
Moreover, the Chinese Government provided a grant equivalent to 2 million US dollars to implement projects to be agreed upon by the two sides during H.E. Chinese Premiere Wen Jiabao’s visit in January Year 2007. Faithful in an old Chinese saying, similar to “A friend in need is a friend indeed.”, the Chinese Government and people are always giving our hands whenever the Philippine Government and people are in urgent need of.
China and the Philippines are friendly neighbors separated by a mere strip of water. With frequent exchange of visits by leaders of two countries in recent years, the China-Philippines relations are at its golden era. As a result, the China-Philippine economic cooperation has been deepening constantly. As the Chinese statistics indicates, the China-Philippine trade volume hit 23.4 billion US Dollars in Year 2006, up by 33% compared with that of Year 2005, 360 times as much as that of Year 1975 when the two nations established diplomatic relations. What’s more, the Philippines enjoy a big quantity of surplus, which recorded 12 billion US dollars in Year 2006.
In addition, the Chinese Government provided four preferential buyer’s credits (PBC) as much as 1.8 billion US dollars in total to the Philippine Government in August 2003, April 2005, January and June 2007 respectively in a bid to help the Philippines enhance infrastructure and national economy, and further promote the bilateral economic relationship. The PBCs are very favorable under the conditions of 3% annual interest and 20 years of maturity (including 5 years of grace period). Up till now, the Philippines have become the largest recipient of China’s PBC. And the Chinese Government has persistent respect to of the Philippine Government’s independent decision on projects and Chinese contractors.
Peace and development are the two major themes nowadays in the world. The escalating economic globalization has brought all the countries closer and closer, and each country or region has its own comparative advantages and circumstances. It’s been proven that China cannot develop her economy without the world, and vice versa. The Chinese people have always, throughout the history, maintained peace, emphasized mutual benefit, and worked hard to achieve win-win or all-win outcome together with the Philippines and all the other countries on the basis of diverse cultures and customs. Embracing-the-world China will bring the world more opportunities and vitality, and the joint cooperation will surely create more worldwide well-being and prosperity.
With more than two decades’ efforts, China has set up a basic pattern for its all-directional opening up and established trade and economic relations with more than 220 countries and regions in the world. China has become the third largest trading country since 2004 and the largest foreign direct investment recipient among the developing countries for 14 consecutive years. The achievements fully prove that China’s favorable investment environment is extensively recognized by the international community.
Along with “Attracting Investment”, the Chinese Government encourages and supports Chinese companies “To Go Global”, investing overseas in compliance with the international laws and regulations, conducting overseas engineering contracting and labor cooperation. Chinese companies have improved their competence after over two decades’ “Going Global”. Some have established their own global production and marketing networks, developed into big companies or groups with well-know brands, self-owned intellectual property rights, well-established main business and strong core competitiveness and have taken shape of becoming a multinational corporation. By the end of 2006, 10,673 Chinese-invested enterprises had been set up in 163 countries and regions with accumulated direct Chinese investment of 73.33 billion USD. By the end of June, 2007, Chinese overseas engineering contracting business pervades over 180 countries and regions with completed turnover amounting to 182.2 billion USD. There are 46 Chinese enterprises ranking among world’s largest 225 contractors.
While striving to achieve sustainable national economic development, the Chinese Government has been providing its utmost assistance to numerous friendly developing countries for more than 5 decades in the spirit of equality and mutual benefit. By the end of Year 2006, the Chinese Government has extended its assistance to 160 countries and regional organizations, undertaken more than 2,000 complete plant projects, dispatched technicians up to 550,000 persons-times, and provided a big quantity of goods and certain amount of cash. China’s sincere assistance to numerous developing countries has won extensive appreciation of the recipient countries and the international community.
Although the Philippines is not a traditional recipient country of Chinese official assistance, the Chinese Government began to donate goods of various kinds on irregular basis to the Philippine Government since Year 1984 in a bid to express the friendly sentiments of the Chinese Government and people to the Philippine Government and people. Over the past several years, the Chinese Government has steadily increased assistance to the Philippine. China-Philippine Agro-tech Center, financed with the grant of the Chinese Government, was established and put into use in Year 2003. Up till now, a great number of Philippine agricultural technicians have been trained at the center, as a result of which tremendous contribution has been made to the Philippine agriculture.
The Philippines is a natural disaster-stricken country, the Chinese Government have hence donated 6 million USD worth of humanitarian goods and cash since Year 2000 to relieve the affected Filipinos of natural disasters. The donation includes: (1) The Chinese Government provided 250, 000 US dollars in cash and 800,000 US dollars worth of materials for disaster relief and reconstruction in response to the landslide disaster in Leyte in February 2006. (2) The Chinese Government provided 600, 000 US dollars worth of goods, 200,000 US dollars in cash and 800,000 US dollars worth of materials respectively in response to 3 devastating typhoons in the 2nd of Year 2006. (3) The Chinese Government provided 2 million US dollars worth of materials in response to the oil spill incident near Giuimaras Island in May 2006.
Moreover, the Chinese Government provided a grant equivalent to 2 million US dollars to implement projects to be agreed upon by the two sides during H.E. Chinese Premiere Wen Jiabao’s visit in January Year 2007. Faithful in an old Chinese saying, similar to “A friend in need is a friend indeed.”, the Chinese Government and people are always giving our hands whenever the Philippine Government and people are in urgent need of.
China and the Philippines are friendly neighbors separated by a mere strip of water. With frequent exchange of visits by leaders of two countries in recent years, the China-Philippines relations are at its golden era. As a result, the China-Philippine economic cooperation has been deepening constantly. As the Chinese statistics indicates, the China-Philippine trade volume hit 23.4 billion US Dollars in Year 2006, up by 33% compared with that of Year 2005, 360 times as much as that of Year 1975 when the two nations established diplomatic relations. What’s more, the Philippines enjoy a big quantity of surplus, which recorded 12 billion US dollars in Year 2006.
In addition, the Chinese Government provided four preferential buyer’s credits (PBC) as much as 1.8 billion US dollars in total to the Philippine Government in August 2003, April 2005, January and June 2007 respectively in a bid to help the Philippines enhance infrastructure and national economy, and further promote the bilateral economic relationship. The PBCs are very favorable under the conditions of 3% annual interest and 20 years of maturity (including 5 years of grace period). Up till now, the Philippines have become the largest recipient of China’s PBC. And the Chinese Government has persistent respect to of the Philippine Government’s independent decision on projects and Chinese contractors.
Peace and development are the two major themes nowadays in the world. The escalating economic globalization has brought all the countries closer and closer, and each country or region has its own comparative advantages and circumstances. It’s been proven that China cannot develop her economy without the world, and vice versa. The Chinese people have always, throughout the history, maintained peace, emphasized mutual benefit, and worked hard to achieve win-win or all-win outcome together with the Philippines and all the other countries on the basis of diverse cultures and customs. Embracing-the-world China will bring the world more opportunities and vitality, and the joint cooperation will surely create more worldwide well-being and prosperity.
