I believe that China's WTO membership will afford China an important opportunity to develop its opening-up to a new stage. We will speed up the opening-up process in such fields as energy, transportation, telecommunications and environmental protection. And at the same time, we will open wider to the outside world such service sectors as banking, insurance, tourism, commerce and trade. We will try to attract more foreign capital to the transformation and upgrading of our SOEs in various forms. We will review and, if necessary, amend the existing foreign-related laws and regulations in light of the requirements of WTO rules and set up an economic and trade system consistent with both the international practice and our national conditions at an early date.
China is the largest developing country and boasts a huge market potential.
The improved living standards of over one billion Chinese and the upgrading of their consumption pattern will definitely create mammoth consumer demands. And the massive infrastructure construction, the upgrading of the industrial structure and the vigorous development of China's west will certainly push up phenomenal investment demands. These foreseeable huge business opportunities in China belong not only to Chinese entrepreneurs, but also to those far-sighted and courageous businessmen around the world. To open up the Chinese market will become an important factor for world economic prosperity. We warmly welcome businessmen around the world and international investment agencies to China to make investments and do business.