Chinese Premier Wen Jiabao Friday called for adapting to the new situation and opening still wider to the outside world, saying that efforts must be made to coordinate domestic development with opening up, fully exploit domestic and foreign markets and resources, and expand development into new areas.

"We will do all our work pertaining to opening up energetically and improve our ability to participate in international cooperation and competition," he said in a report on the work of the government delivered at the opening of the Second Session of the Tenth National People's Congress.

While striving to keep foreign trade growing at an appropriate rate, China should continue to follow the strategy of market diversification, compete on quality, optimize its export mix, and promote the transformation and upgrading of the processing trade, improve coordination among foreign trade entities, strive to overcome trade barriers and minimize trade friction to create a fair trade environment for our enterprises, said the premier.

More rational and appropriate use of foreign capital is necessary to raise the performance of foreign investment, Wen said, adding, "We will continue to enforce policies and measures that encourage foreign investment and further improve our investment environment."

He also called for efforts to speed up the implementation of the strategy of "going global" and better coordinate and guide Chinese investment abroad.

Enterprises under all forms of ownership are encouraged to invest in overseas operations in various forms and expand their international market shares, he noted.

China will continue to conscientiously fulfill all its commitments for China's accession to the WTO, the premier said.

(China Daily March 5, 2004)