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Over the past 26 years since China adopted the reform and opening up policy, its average annual economic growth has hit 9.4 percent, four times that of developed countries in the same period, three times that of world economic growth and double that of developing countries.

Calculated in accordance with the US dollar, China's GDP (gross domestic product) increased from US$147.3 billion in 1978 to US$1.64 trillion last year, 11 times that in 1978.China's economic development has brought opportunities to the world.

In the opinion of the International Monetary Fund (IMF), China is another locomotive of the world economy following the United States.

Last year, China's GDP, counted by the market exchange rate, accounted for 4.1 percent that of global output, and over 13 percent when counted in accordance with PPP (purchasing power parity), constituting a bigger rate of contribution to world economic growth.

According to World Bank statistics, in the 1980-2000 period, the (PPP) contribution rate of China's economic growth to world economic growth reached 14 percent, second only to America's 20.7 percent, and higher than Japan's 7 percent. In 2000-2003, the contribution rate of China's economic growth to world economic growth reached one-third, higher than America's 13 percent, even when calculated on the basis of market exchange rate, China's contribution also touched 17 percent.

China's economic development has livened up the world market. China's total trade value surged from US$20.6 billion in 1978 to US$1,154.79 billion last year, with its average annual growth standing at 16.8 percent, making it the world's third largest trading country. Asia, with its favorable position, was the first to gain benefit from China.

According to Asian Development Bank, in recent years the economic growth in the Asian region is obviously faster than that in other regions of the world, this is mainly attributed to the rapid development of China's economy. The statistics from Asian Development Bank show that in 1995-2003, world trade grew 5.3 percent annually on average, while Asia's export to China increased 16.9 percent; since 2001, the 50 percent growth of East Asian exports has come from the increase of its exports to China. The 84.6 percent growth of Japan's economy in 2002 was benefited by its exports to China. Secondly, global exports also received benefits. China's import value shot up from US$10.89 billion in 1978 to US$5,614.2 billion last year, making it a big import market worthy of the name.

IMF statistics show that in 2000-2003 the contribution rate of China's commodity import growth to the increase of global exports reached one-third. US commodity export to China last year increased 31.9 percent, notably higher than the 8.8 percent growth rate of its exports to the world.

The opening effect generated in the process of China's economic development has benefited the whole world. China's economic rise is essentially different from Japan's economic marvel because of the salient export-oriented characteristics of China's economy.

The external dependence (trade/GDP) of China's economy rocketed from 1 percent in 1985 to 70 percent last year, while that of the US was 23.6 percent. China has become one of the widest opening markets in the world.

In terms of import dependence, last year China's import dependence (import/GDP) touched 34 percent, higher than Japan's 8 percent and America's 15.2 percent; in terms of import duty, China import duty has plummeted from 55 percent in 1985 to 9.3 percent this year, notably lower than Argentina's 31 percent, Brazil's 27 percent, India's 32 percent and Indonesia's 37 percent; in terms of the outward-looking economy, the exports by foreign-funded enterprises in 2003 accounted for 62.4 percent of China's total exports, while that of Malaysia was 45 percent, Singapore 38 percent, Mexico 31 percent, and the ROK 15 percent.

To sum up, China's economic development has not only made China itself rich, but also is changing relations of the world economy, it is creating a win-win situation together with the world.