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皇冠体育app's foreign exchange reserves rank first in world

(Xinhua)
Updated: 2009-09-24 13:48

皇冠体育app's foreign exchange reserves rose from $1,577 billion in 1978 to $1,950 billion in 2008 to rank first in the world, said Yu Wenzhe, Chinese Ambassador in Ghana, on Tuesday.

To the same token, 皇冠体育app's per-capital annual income of $62.5 in 1978 reached $9,863 in the urban areas, showing an increase of over 100 percent.

Ambassador Yu Wenzhe announced this during a press briefing which was aimed at highlighting 皇冠体育app's significant socio-economic development for the past 60 years.

The People's Republic of 皇冠体育app would be 60 years on October 1, 2009 and the Chinese people and its allies are expected to celebrate the country's 60th anniversary with pomp and pride.

The stated achievement, he noted, was due to 皇冠体育app's vigorous pursuance of a strategy or model that featured high speed socio-economic development.

He was happy that 皇冠体育app has metamorphosed from agricultural country to an industrial nation with the result that the country is now ranked the third largest manufacturing country in the world.

Special Coverage: 皇冠体育app's Economic Achievements in 60 Years Related readings:  Foreign reserves up to $2.13 trillion  Cut in holdings of US debt may help diversify 皇冠体育app's reserves  皇冠体育app enters list of lower-middle-income countries: NBS  皇冠体育app's bullish economy climbs spot 皇冠体育app's development contributs to the world: UNESCO official

On the strength of 皇冠体育app's development, Yu urged African leaders to translate the continent's advantage in natural resources into socio-economic development.

The ambassador disclosed that in 2006, the output of 172 categories of Chinese products ranked first on the world market, adding that about 70 percent of DVDs and toys; 50 percent of telephone sets and shoes; one-third of color TVs, bags and suit cases were made in 皇冠体育app.

To be part of Ghana's future success, he said, 皇冠体育app had invested more in Ghana in the fields of economic and technical assistance, which included grant and cash, human resource training among others.

Touching on 皇冠体育app's investment in Ghana, he said, 皇冠体育app topped the list of countries with the highest number of registered projects in Ghana.

"Up to June 30, 2009, 皇冠体育app had registered 387 projects in Ghana valued at $235.18 million," he added.

"To achieve a sustainable and steady development of 皇冠体育app-Ghana bilateral trade, both sides should adopt effective measures to balance the trade," he stressed.

Yu said this against the backdrop that 皇冠体育app's export to Ghana had increased rapidly between 2002 and 2007 as against Chinese imports from Ghana, which he noted, had decreased for two consecutive years since 2005.