Ladies and gentlemen,

Good morning!

The Ministry of Railways pays great attention and gives full support to Modern Railways 2002 to be held in Beijing in June 2002. It is the first Modern Railways exhibition approved in the new century by the Chinese Ministry of Foreign Trade & Economic Cooperation and the Chinese Ministry of Railways, and to be co-hosted by China Academy of Railway Sciences and China World Trade Center Holding Co., Ltd.

Since China's opening up to the outside world in the late 1970s, the railway equipment has been greatly upgraded as a result of the deepening of reforms, the promotion of scientific progress and strengthening of technical innovation. But the overall technical level is still lagging behind that of foreign countries by a big margin. During the "Tenth Five-Year Plan" period (2001-2005), China will continue to implement the active financial policy and give support to the infrastructure construction.

Within the next five years, about 350 billion RMB (US $42.27 billion) will be invested into the railway construction, with 270 billion RMB going to infrastructure construction (about 255 billion RMB for large and medium-sized infrastructure construction) and about 80 billion RMB for procurement and upgrade of the rolling stock. The railway route length will grow to be 75,000 km by 2005. And an express railway net with the total of 14,000-16,000 km of tracks is to be completed.

The Chinese Railways will open wider to the outside world, continue with the self-supported R & D, import advanced technology from overseas, actively introduce and absorb the advanced technologies and successful management experience from abroad and improve overall level of the railway industry to "keep up with the Jonses". By the end of the "Tenth Five-Year Plan" period, the main technical equipment of the Chinese Railways will live close to the international level of the late 20th century.

With China's official entry into WTO, the railway transport market will be gradually opened. The Chinese Railways will make use of foreign funds and introduce the state-of-the-art overseas technology and management experience in a more positive way. During the "Tenth Five-Year Plan" period, the Chinese Railways will further intensify the technical exchange and cooperation with foreign countries in the fields of high speed railway, information technology, technology for safety insurance and technology for operation management. Modern Railways 2002 will provide a platform for railway manufacturers and suppliers from China and abroad to communicate ideas and offer an opportunity for them to show their latest technologies, state-of-art equipment and to seek cooperative partners. Manufacturers and suppliers from all countries are welcome to participate in the exhibition. We will organize departments concerned of the Chinese Railways to visit the show and communicate and negotiate with the exhibitors worldwide.

I hope Modern Railways 2002 will further widen the channel for cooperation with foreign countries and promote improvement of the technical equipment and management level of the Chinese Railways.

Thank you.