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Market competition will boost business ( 2003-11-07 23:20) (China Daily)
The nation's enterprises should join forces to achieve common success in market competition, Vice-Premier Huang Ju told the China Business Summit in Beijing on Friday. As the country's economic growth continues, Chinese entrepreneurs should re-evaluate the relationship between competition and development, Huang said. Only through sincere co-operation and learning from each other's strong points will enterprises attain common success, he added. The comments came in Huang's concluding speech at the two-day summit, which was part of the World Economic Forum. Economists and business elites from around the globe attended workshops during the summit to discuss China's economic advances and problems and compare them to those of other countries such as India and Russia. Chinese entrepreneurs should earnestly listen to the opinions of the world's economic experts and learn from the experience of other countries, said Huang. Besides pointing out that Chinese enterprises should adhere to the principles of honesty and credibility, he stressed they should be willing to shoulder social responsibilities. "Enterprises, especially multi-national enterprises, have been playing a significant role in promoting the development of economy and the advancement of human civilization,'' said Huang. Huang said China will further deepen reforms to the economic structure and stick to a joint development of State and private economies. Opening up will remain a major tone in the economic reform. Also, the government encourages State-owned enterprises to investment overseas, said Huang.
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