Chairman Liu addressed 1st China West Financial Forum

October, 22, the 11th Western China International Economy & Trade Fair was held in Chengdu. Themed with Development and opening up; share and all-win , the Fair recorded over 60,000 participating companies. Vice Chairman of the NPC standing committee, Chairman of Democratic National Construction Association Central Committee, Mr. Chen Changzhi, and Sichuan government officials initiated the opening ceremony. Standing committee member of the CPPCC, board chairman of Tongwei Group Mr. Liu Hanyuan was invited to address the 1st China West Financial Forum.

Mr. Liu made a presentation on Thoughts on China s Exchange Rate Reform and Private Capital Accumulation in the West. He specifically expounded on the outcomes since July, 21, 2005, when China started a new round of exchange rate system reform. Accelerating the reform of Renminbi exchange rate, and making appropriate, gradual appreciation of the RMB is the inevitable trend for China in the near future. It is important to practically improve supporting measures of China s exchange rate system reform in the long run.

Specifically on China s western economic development, Mr. Liu gave positive recognition and affirmation to the crucial achievements obtained in this region since the implementation of strategic development of Western China in 1999. Take Sichuan province for example; there are plenty of new energy resources of PV and thermal solar. It is capable of becoming China s future energy highland for sustainable development. Given appropriate policies, making most of international capital for resource development will greatly help industry restructuring in the west.

Western China International Economy and Trade Fair is co-sponsored by the National Development and Reform Commission, Ministry of Commerce, and seven other central government departments, together with 12 western provinces and autonomous regions. The Fair covers an area of 160, 000 sqm with 8890 standard exhibition booths. Tongwei Fish, Aquaculture food, Xin Taifeng, Chunyuan food, Yongxiang polysilicon, and Tongwei solar were exhibited.