Ladies and Gentlemen,

In this golden autumn season of October, the APEC CEO Summit  2001 solemnly opens in Shanghai today. On behalf of the Chinese  Government, I wish to warmly welcome all of you to Shanghai,  China and also to offer cordial congratulations on the opening  of APEC CEO Summit 2001.

In every APEC CEO Summit, many business leaders across the  Asia-Pacific would gather together to discuss the immediate  economic issues facing the Asia-Pacific region and even the  world, explore development strategies for enterprises, seek  better mutual understanding and make joint efforts to build  the framework of cooperation. The discussion at the CEO Summit  gives expression to the rich experience, wisdom and creativity  of its participants. They have become a treasure house of all  entrepreneurs and caught the attention of senior leaders and  governments of APEC economies.

As a result of their productive efforts, business leaders  in the Asia-Pacific region have not only contributed significantly  to the economic prosperity and people's well-being in this region  but also become an important force pushing forward economic  cooperation in the Asia-Pacific region and the world at large.  It is fair to say that the APEC CEO Summit has set up a platform  for communication and cooperation, which gives expression to  the long-held APEC spirit of equality and cooperation. Today,  the elite of the Asia-Pacific business community meet once again  in Shanghai to express their views and discuss major issues  under the theme of "New Century, New Economy: Developing in  Globalizing World". Chinese President Jiang Zemin and many leaders  from other member economies will address the Summit. This will  be an occasion under the new situation for important communication  and exchanges between entrepreneurs as well as between entrepreneurs  and governments. It will help increase cooperation between enterprises  in the Asia-Pacific region as well as strengthen relations between  the enterprises and governments.

In the new century, the trend towards economic globalization  has grown stronger. The New Economy has developed at an extraordinary  speed. The economic situation in the Asia-Pacific region has  undergone many changes. We need to think about ways to cope  with these new developments. There is no denying that economic  globalization has triggered more fierce market competition worldwide.  As major players in economic activities and technological innovation,  enterprises are obviously under pressure from competition. However,  a wider range of competition implies a wider range of cooperation  at the same time. We stand for cooperation amidst competition,  common development through cooperation and economic prosperity  from common development, which will eventually lead to a better  life for all people together.

For enterprises from different APEC economies, it is entirely  possible for them to bring into play their respective comparative  advantages, boost inter-regional economic and technological  cooperation, optimize the allocation of resources in a wider  scope and on a greater scale and achieve an all-win outcome  while seeking to maximize their profits. I am confident that  this Summit will help the entrepreneurs from APEC economies  to unite as one, pool their wisdom and efforts, and together  face the grim challenge posed by the visible slowdown of world  economic growth as well as the impact on world and regional  economies resulting from the 11 September terrorist attack.  It will help them to explore modalities for the growth and development  of enterprises in the new situation, look for ways to rejuvenate  the Asia-Pacific economy and contribute their due share to stabilizing  the economic situation in the Asia-Pacific and the world as  a whole.

China values its friendly cooperation with other APEC economies.  They are China's important partners in economic cooperation  and trade. In 2000, the trade volume between China and other  APEC economies reached over US$340 billion, and newly-approved  introduction of foreign capital from them exceeded US$30 billion,  both accounting for more than 70% of China's total foreign trade  and absorbed foreign capital. China also encourages viable Chinese  enterprises to invest and do business abroad and to take an  active part in international competition and cooperation. Moreover,  China's overseas investment has been concentrated mainly in  APEC regions.

At present, China's accession to the WTO is imminent. The  Chinese market and the world market will be more closely integrated.  China's economic development will also depend more on its economic  exchanges and cooperation with other countries and regions in  the world, especially the Asia-Pacific region. An open China  cannot do without the world. After its entry into the WTO, China  will honor its commitments and more vigorously advance its all-directional,  multi-tiered and wide-ranging opening-up. China will further  open up its domestic market, increase open areas and localities,  take well-measured steps to open wider in such service sectors  as finance, insurance, telecom, trade and tourism and actively  explore new approaches and ways to utilize foreign capital.  China which is at a new historic starting point faces unprecedented  opportunities for trade and investment. Here, we sincerely welcome  enterprises from various economies to China to grasp business  opportunity and seek even greater progress.

In retrospect over the 20th century, the Asia-Pacific region  achieved remarkable economic growth. Although the growth has  slowed down due to difficulties in recent years, I am sure that  in the 21st century, through persistent efforts of all APEC  members, the economy of the Asia-Pacific region will regain  its vitality and the life of people in the region further improved.  The new century and new economy are bound to bring to people  new hope.

I wish the APEC CEO Summit a complete success.

Thank you all.