My remarks will focus on four aspects. First, the Chinese economic development against the backdrop of globalization; second, challenges associated with WTO accession facing the Chinese industries; third, our strategies to cope with these challenges; and lastly, prospects of Sino-Latin economic and trade relations. I will also be very pleased to answer any questions you might have during the discussion session if time permits.
I. The Chinese economy has entered an important stage of active interactions with the rest of the world  The economic reform, which started in 1978, has brought about remarkable changes in China. This high growth episode has largely coincided with the deepening of the economic globalization.