roducts and know-how with comparative advantages for the development of others —— this is how countries achieve common development through mutually beneficial cooperation. right now， china has entered into a new stage of building a well-off society in an all-round way and accelerating the socialist modernization drive. we are busily engaged in developing a socialist market economy and opening the country still wider to the outside world in more areas and with a higher level of sophistication. while speeding up strategic economic restructuring， we are vigorously implementing the strategies of revitalizing china through science and education， of sustainable development， of the development of the west and of renewal of the old industrial base of northeast china. china enjoys a vast market， abundant labour， social and political stability and a vibrant momentum for development. a stronger and more developed china will bring growth opportunities and tangible benefits to other countries in the world.
china and australia are highly complementary economically. blessed with a vast territory and rich resources， australia boasts of economic and technological successes. the potential for china-australia economic cooperation is immense. past， present or future， we see australia as our important economic partner. china-australia trade grew rapidly in recent years from us$ 87 million in the early years of diplomatic relations to us$ 10.4 billion in 2002. china has become australia'
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