| From 1978 to 2007, the total foreign trade value of China increased to US $2.17 trillion from US $20.6 billion |
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| Thursday,December 25,2008 Posted: 16:36 BJT(0836 GMT) |
| From:MOFCOM Article type:Reproduced |
After 30 years of development, a holistic, multi-layer and wide-ranging structure of reform and opening-up has formed, and the great practices of reform and opening-up have made remarkable achievements in the world. From 1978 to 2007, the total foreign trade value of China increased to US $2.17 trillion from US $20.6 billion and its ranking in the world climbed to 3rd from 32nd. The proportion of the total value of Chinese imports and exports increased to 8% of the world's total from 0.78%. The total number of foreign investment enterprises established in China rose to 635,000, the total value of direct investments of foreign merchants actually absorbed by China exceeded US $770 billion, and China became one of the countries that absorbs the most foreign capital. The total net value of the non-financial direct investments of China to foreign countries reached US $110.6 billion. The total annual turnover of the contracted projects in foreign countries, the foreign-related labor cooperation and the foreign-related design and consultation grew to US $46.3 billion from US $30 million, a 1543-fold increase. The opening-up has not only accelerated economic development and social progress, but has also brought new changes to all industries and to the daily lives of the people. From 1978 to the end of 2007, Chinese students studying abroad expanded 168-fold, with destination schools spread over 100 countries of the five major continents of the world. At the same time, altogether China hosted 1.23 million foreign students from around world. China has become the world's fourth largest tourist destination, and the largest tourist sending country in Asia.
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