Addressing the China Investment Forum, Wang said that China will adhere to its strategy of expanding domestic demand and make efforts to boost industrial restructuring, infrastructure building, environmental protection and social development.

"Our market needs more foreign investment, and foreign investors also need a bigger share of China's market. There is a bright future in China for foreign investors, " Wang said.

The ambassador also stressed the economic interaction and complementarity of China and the United States. "The importation of Chinese products has saved U.S. consumers 600 billion dollars over the past decade and 100 billion dollars in 2004 alone, representing an average 625 dollars saving per household per year," he said.

"Our economic relations and bilateral trade are undoubtedly 'shining spots' of success and pillars sustaining China-U.S. relations," he said.

Wang added that China and the United States have promoted their economic and trade exchanges with other countries in the Asia-Pacific region, enhanced economic development and cooperation in the region and contributed to world economic growth.

While the United States is the locomotive of world economy, the effect of China's economy on world economy is also becoming increasingly evident, he said. "China, with a 5 percent share of the world GDP, is making a 10 percent contribution to world economic growth and 12 percent contribution to global trade growth, second only to the United States."

Wang reiterated that China will continue to seek peaceful development and focus on building up the country. "This is the inevitable choice based on our national conditions and cultural tradition, and it also conforms to the universal aspiration."