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China will increase its total volume of trade in goods and services to US$2.3 trillion and US$400 billion respectively by the year 2010, according to an official document Monday.

 

Efforts must be made to enable China "participate in international economic and technological cooperation and competition in a larger and more profound way," read the Guidelines for the 11th Five-Year Plan for National Economic and Social Development (2006-2010), which are being discussed at the annual full session of the 10th National People's Congress (NPC).

 

China's import and export volume totaled US$1.42 trillion in 2005, registering a 23.2 percent year-on-year increase. Total foreign direct investment actually used reached US$60.3 billion, and the country's foreign exchange reserves totaled US$818.9 billion at the end of 2005, Chinese Premier Wen Jiabao said when delivering a report on the government work at the opening of the annual session of the NPC on Sunday.

 

The total import and export volume tripled over the past five years, and the amount of foreign direct investment actually used came to US$274.08 billion, Wen said.

 

"We must lay stress on the quality of foreign investment utilization, and give priority to introducing advanced technologies and managerial expertise and special talented people by way of using foreign investment," says the document.

 

(Xinhua News Agency March 7, 2006)