The 5th ASEM Economic Ministers’ Meeting, which closed on July
24, passed the 5th ASEM Economic Ministers’ Meeting Chair
Statement.
Mr. Lu Fuyuan, China’s commerce minister and chairperson of the
meeting, met the press after the closing session, together with
representatives from four ASEM coordinating nations.
Minister Lu said the results of the meeting sent a message to
Cancun WTO Ministerial Conference that the ASEM member countries
would try their best to promote the new round of trade talks while
promising their strong support of Cancun Conference’s success.
At the press conference, Minister Lu also talked about the
economic and trade situation of China. According to him, in the
first half of this year, the growth of import far exceeded that of
export, which may result in trade deficit. But Minister Lu also
emphasized that China would continue reducing tariff to fulfill its
promise to WTO.
“We’ve set the theme of promoting mutual development and expect
the win-win result in trade, so we now still encourage import,” he
said.
“China’s rapid development harbingers an expanding consumption
market, which will provide more business opportunities for trade
partners,” he added.
Talking about the possible adjustment of the value of renminbi,
Mr. Lu said that the value of the yuan would remain stable at the
current stage, though the possibility of adjusting the rate would
not be ruled out in the future.
“Every economy will decide its currency value based mainly on
its own economic situation, coupled with the global environment,”
Lu said.
“In terms of China's current situation, we prefer keeping the
currency value stable and do not want fluctuation in the value,” Lu
went on.
“Many differences exist with the values of many different
currencies such as the US dollar and euro. But they will make their
own judgment according to their situation,” he added.
(China.org.cn by staff reporter Tang
Fuchun, July 25, 2003)