The Chinese government will create a more stable and transparent environment for domestic and overseas enterprises, the trade minister said in Beijing on Friday.

Shi Guangsheng of the Ministry of Foreign Trade and Economic Cooperation said China will improve its economic and trade environment concerning policies, the legal system, administration and the market for facilitate cooperation between domestic and overseas businesses.

Shi made the remarks at the ministry's Spring Festival party attended by heads and business representatives of foreign diplomatic missions and international organizations in China and their, and chief and business representatives of the liaison offices of Hong Kong and Macao.

The minister said that despite difficult international circumstances, China's foreign trade volume in 2001 reached US$509.8 billion, a year-on-year growth of 7.5 percent.

Of the total, exports grew 6.8 percent to US$266.2 billion and imports rose 8.2 percent to US$243.6 billion.

The contracted volume of foreign investment totaled US$69.2 billion, up 10.4 percent, with the amount of foreign investment in place jumping 14.9 percent to US$46.9 billion.

Shi said China's accession to the World Trade Organization marks the beginning of a new stage of the country's reform and opening-up, and China will take part in international economic cooperation and competition in a wider scope and greater depth.

China is willing to continue the mutually beneficial trade and economic relations with various countries and regions all over the world for common development and prosperity, he said.

( China Daily January 26, 2002)