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Shanghai Looks Broad for Advice
 

Shanghai Mayor Xu Kuangdi said the city will try to emulate and learn from the experiences of market economies around the world as it prepares for entry into the World Trade Organization.

The promotion of market operations will help Shanghai encourage foreign investment, benefit local industries and develop the city's Pudong New Area.

"Shanghai will adjust the way the government administrates the economy and take the lead in China to borrow international methods to set up an operational mechanism," said Xu at the welcoming banquet of Asia Society's 11th Annual Corporate Conference.

He said the conference is a venue for Shanghai to learn more about the international economy and management techniques.

To become an international economic center, the government is working on its 10th Five-Year Plan and a long-term development plan for Shanghai.

Shanghai plans to take advantage of higher education, research and technology to foster an economic system that encourages innovation.

"Service industries will be further developed" by encouraging more domestic and foreign investment into financial, insurance, trading and investment development organizations, Xu said.

As the country's commercial and financial center, Shanghai has been striving for a global share in the information technology, finance and shipping.

"Shanghai has also solemnly made commitment to citizens and investors to strengthen environmental protection."

The emphasis this year will be put on the treatment of Suzhou Creek, one of the two major rivers running through the city, he said.



(China Daily 05/12/2000)

 
   
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