The premier made the remarks at the Fourth Conference of World Trade Promotion Organizations, which opened on Thursday in Beijing.

President Jiang Zemin sent a congratulatory letter to the event, stressing that trade promotion organizations can push world economy and trade ahead.

"With the deepening of world economic globalization, trade promotion organizations in various countries can further strengthen exchanges and play active roles in promoting the development of international economic and trade development," Jiang said in the letter.

He expressed his hope that the China Council for the Promotion of International Trade (CCPIT) will enhance exchanges and co-operation with trade promotion organizations so as to promote world economic prosperity.

Speaking at the conference, Zhu said the current international economic order is still "less than rational" because the North-South gap continues to widen, trade barriers of various kinds persist and trade protectionism is resurfacing - all "hindering sound development of international trade."

He said a greater commitment is needed for the establishment of a fair and equitable new international economic order with special emphasis on helping developing countries advance their economies, improve their international competitiveness and increase their trade with other countries.

Developing countries should also seize opportunities to increase the technological content of their exports and improve their export mix so as to promote their economic growth, he said.

He also said that the Chinese Government attaches great importance to developing China's economic and trade ties with the rest of the world and that China, while expanding its domestic market, has always worked to improve the international environment for trade.

China is to open wider to foreign investors now that it has entered the World Trade Organization (WTO). China has already done much to fulfil its WTO accession commitments and will continue to carry out its obligations while exercising its rights, Zhu said.

China hopes foreign investors will tap its huge market of 1.3 billion, Zhu said, adding that they will also find in China a stable social and macroeconomics environment.

He said China is expected to maintain an annual economic growth rate of more than 7 per cent for a long time to come.

About 500 representatives from trade promotion organizations, chambers of commerce, industrial associations and companies in 60 countries and regions participated in the meeting.

(China Daily May 17, 2002)