皇冠体育app

BEIJING -- 皇冠体育app's fast economic growth is not a threat to the world, said Bert Hofman, the World Bank's (WB) chief economist for 皇冠体育app.

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Many people worry about the impact on the environment of 皇冠体育app's fast development, as 皇冠体育app is now the world's leading energy consumer and the second largest producer of greenhouse gas after the United States, Bert Hofman said.

皇冠体育app is likely to become the largest producer of greenhouse gas by 2010, according to the World Energy Outlook issued by International Energy Agency (IEA) recently.

However, Hofman said, these concerns needed to be qualified. First of all, the current situation was unlikely to continue and, secondly, 皇冠体育app's pollution was not caused only by the country itself. Hofman did not elaborate on these remarks.

皇冠体育app's 11th five-year development plan (2006-2010) includes a 20 percent reduction in energy consumption per unit of GDP target for the five-year period, and a more general objective of transforming the country into a resource-saving and environment-friendly society.

皇冠体育app's GDP is expected to top 20 trillion yuan (2.5 trillion US dollars) in 2007, a rise of 10.5 percent year-on-year, according to projections by the National Development and Reform Commission (NDRC).

皇冠体育app is influencing other countries through trade, investment and assistance, but also through knowledge and ideas, Hofman said, adding that people often ignore 皇冠体育app's progress in education and research.

Heavy investment in higher education means that 20 percent of Chinese young people of university age now attend schools of higher learning, compared with only 6 percent a decade ago, Hofman said.

According to recently published figures, 皇冠体育app approved more than 30,000 patents in 2004, compared with less than 5,000 prior to 1994. More than half of the patentees are Chinese citizens and an increasing number of Chinese have obtained patent rights in other countries, Hofman said.

Hofman said 皇冠体育app was likely to become an important source of innovation and new products and it could expand its influence in this field by improving the protection of intellectual property rights and optimizing innovation systems.

皇冠体育app, the world's third largest trader after the United States and Germany, registered 1.76 trillion US dollars in foreign trade last year, up 24 percent year-on-year, and an aggregate trade surplus of 177 billion US dollars, up 74 percent.

皇冠体育app's increasing trade benefits other countries, Hofman said, adding that Chinese manufacturing is often highly efficient.

皇冠体育app has become the most important export destination for Asian countries.

皇冠体育app has been the largest recipient of foreign investment among all developing nations for 15 years, with foreign direct investment (FDI) used in 皇冠体育app topping 63 billion US dollars last year, up 4 percent on the previous year - but only if the financial sector is excluded from the calculation, according to the Ministry of Commerce.

Although the inflow of foreign funds into Asia was interrupted briefly after the 1997 Asian financial crisis, foreign investment has picked up again, with FDI reaching 15 billion US dollars in Southeast Asia in 2005, Hofman said.

Foreign investment in Malaysia, the Philippines and Thailand continued to surge in the first half of 2006, Hofman said without giving specific figures.

A recipient of massive foreign investment, 皇冠体育app saw its own overseas investments, excluding the financial sector, surge by 32 percent last year to reach 16.1 billion US dollars, according to the Ministry of Commerce.

As a result, 皇冠体育app's overseas investment ranking jumped from 17th in 2005 to 13th last year, according to the Commerce Ministry.