Yu, also president of the China Council for the Promotion of International Trade, said that participants in the meeting had broad-based and in-depth discussions on a wide range of topics centering on the theme of the summit "New Century, New Economy: Developing in a Globalizing World".

Leaders of nine APEC economies, including Chinese President Jiang Zemin, Russian President Vladimir Putin and U.S. President George W. Bush, delivered speeches at the summit, which attracted the participation of more than 500 business executives from the 21 APEC member economies.

Yu said, participants reached consensus on the world economic development orientation and future development of enterprises based on broad-based and in-depth discussions on the development trend of a new economy and globalization, opportunities and challenges facing enterprises in the Asia-Pacific region and strategies concerning future development of enterprises.

They also discussed the topic of E-Economy, and they were all supportive of the launch of a new round of World Trade Organization-related talks, according to Yu.

The business executives also exchanged views with leaders and ministers of many APEC member economies, Yu said, which has greatly enhanced mutual understanding and helped unite the governments and business circles of the APEC economies in meeting new challenges and creating long-term economic prosperity in the Asia-Pacific rim.

Discussions during the meeting have also resulted in consensus on a wide range of areas inside business circles of the Asia- Pacific rim, Yu said, adding that this will help further promote economic and technical cooperation between enterprises in the region.

Participants have also had a better understanding of Shanghai and China's development, Yu said.

Business executives from renowned multinational corporations such as Microsoft and GE, and from more than 80 Chinese enterprises attended the summit.

(People's Daily 10/21/2001)