China to open up RM5.7 trillion trade market in five years: Hu
Vice President Hu Jintao sought today to allay Asia's fears of China's growing economic might and vowed Beijing would oppose the "bullying" of weak nations by superpowers.
Hu, widely tipped to be China's next leader, said China's entry into the World Trade Organisation (WTO) would open up trade opportunities worth at least RM5.7 trillion in the next five years.
He urged Asia not to view China as a competitor but as a "positive force" to forge an economically stronger and stable region.
"In the next five years, a more open China will provide its trading partners with opportunities of at least US$1.5 trillion worth of goods," Hu said in a special address at a public forum here.
"As China accelerates the implementation of its 'go global' strategy, it will increase its investment in other Asian countries," he said.
Hu said Asia must "strengthen solidarity and cooperation and secure a steady and sustained development."
"China's development would be impossible without Asia, and Asia's prosperity without China," he added.
The Chinese leader, accompanied by a 65-member delegation, arrived here Tuesday for a four-day visit in the first leg of a three-nation tour that will also take him to the United States.
Hu, whose beliefs are little known, despite being groomed for the top job in the world's most populous nation, said China opposed big nations bullying the small and would retain an independent foreign policy.
"It opposes the strong lording it over the weak and the big bullying the small and has long pledged not to seek hegemony, not to join any military bloc and not to pursue its own spheres of influence," he said.
"Big countries should respect the interests of the small and medium-sized Asian countries, treat them as equals and act constructively for Asia's stability and prosperity."
Separate talks
Hu visited the Petronas Twin Towers, the world's tallest towers, before holding separate talks with Prime Minister Mahathir Mohamad and his deputy Abdullah Ahmad Badawi at the Putrajaya administrative centre.
Abdullah told reporters that Hu and Mahathir discussed bilateral and international issues, including the Middle East conflict.
He described his Chinese counterpart as a "very calm, steady and knowledgeable" person, saying: "All the issues are at his fingertips."
Abdullah said Hu supported Malaysia's proposal to formalise cooperation between the Association of Southeast Asian Nations (ASEAN) and Japan, China and South Korea, and to call it the "East Asia Summit."
"Hu said Asean plus three should be strengthened further," he added.
Earlier in his speech, Hu urged Asean to play a bigger role to deepen cooperation in Asia.
Trade between China and Asean continued to grow at an average annual growth of over 20 percent, surging to US$41.6 billion last year, from only eight billion in 1991, he said.
China and Asean last year agreed to set up a free trade zone within 10 years.
Hu pledged China's commitment to help Asian economies by not devaluing its currency despite a slowdown in its export growth.
Despite its economic liberalisation, Hu predicted China would go through "many more difficulties and make long and hard efforts" before it achieves modernisation.
Paying tribute
Hu paid tribute to Malaysia's "dauntless fighting spirit and your remarkable achievement" before witnessing the signing of an agreement to establish a China-Malaysia joint business council to boost trade ties.
The Chinese leader will fly early Thursday to the northern island of Penang, a hub of high-tech companies, before leaving for Singapore the next morning.
From Singapore, the low-profile communist cadre will head to the United States on Saturday in what will be his most significant appearance on the international stage so far.
Hu, who is set to succeed President Jiang Zemin in a communist leadership revamp beginning this autumn, is due to meet top US officials including President George W Bush during his week-long stay.


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