China: “Hope to increase economic growth by 8%” in 2009

Minister Counsellor and Head of the Political Section for the Embassy of China, Weilin Kuang discussed “China’s Development and its Role in the World,” today at a Humanity Peace and Security meeting for the Korean Peninsula Issues in Washington D.C.

Weilin Kuang said in his opening remarks: “Over the last 30 years the economic progress China has made is truly remarkable…over 200 million Chinese people have been lifted out of poverty.”

However, despite China’s progress in the economic market, Kuang noted some challenges facing China: “Although we are the third largest economy in the world our GEP is behind the 100th largest economy in the world.”

Talking about the current economic crisis, Kuang said: “China is faced with very serious economic difficulties and challenges.”

Talking about China’s relations with the world, Kuang said: “After 30 years of reform China’s relations with the world has changed. China needs the world, and the world needs China.”

Kuang stated that maintaining and building on external relations is vitally important to help China get through this economically demanding period.

Speaking of hope for China, Kuang said: “I am confident that a rising, confident and more prosperous China will make positive contributions to the world…China hopes to increase its economic growth by 8 per cent this year and I am very hopeful.”

In regard to US-China relations, with the new Obama administration, he said: “We hope to see a continuation of these two dialogues…we have put our ideas to the US side, now its their turn, the ball is in their court…I am confident a formula can be formed to allow these two dialogues to continue…it is up to the United States to make a position.”

“We have seen positive signs from President Obama and Secretary of State Hillary Clinton…I hope more can be done to move forward and expand talks…face-to-face talks could be very helpful to help express mutual understanding,” he concluded.