Addressing the 2001 International Investment Forum, Long said "China will be a responsible member that will play a constructive role, abide by the rules, and do its best to contribute to the improvement of the multilateral trading system."

"No country should be in any doubt about China's determination to observe international rules."

After joining the WTO, China will continue to be a country that enjoys rapid growth in foreign trade and a huge potential for attracting foreign investment.

Long said China now takes the seventh place on the list of world trading nations, compared with the previous 32nd place. The country's actually utilized foreign investment has reached over 200 billion U.S. dollars, ranking second in the world for several consecutive years.

China's entry into the WTO will not only be beneficial for Chinese products to enter the international market, but also for China's trading partners to enter the Chinese market, he said.

China will speed up its steps particularly in opening the areas of insurance, banking, telecommunications, commercial distribution, tourism and other service industries. This will certainly help U.S. and European enterprises to enter the Chinese market in such sectors where they enjoy a competitive edge, Long noted.

The official pledged that after joining the WTO, China will adopt transparent and level trade and investment policies, encouraging fair competition, granting national treatment so as to create a better investment environment, and giving foreign investors more confidence and a sense of stability.

China will also adopt an active attitude in participating in the course of economic globalization, further strengthen its cooperation with both multinational corporations and small and medium-sized enterprises, and intensify its efforts for the economic upgrading of its industries.

(Xinhua News Agency 09/08/2001)