Respected Mr. Mengi, chairman of Tanzania Private Sector Foundation,

Respected Mr. Huang Zaisheng, President of Chinese General Chamber of Commerce ,

Ladies and Gentlemen,

Good afternoon.

It gives me great pleasure to attend the ceremony marking the cooperation between the Chinese Business Chamber in Tanzania (CBCT) and Tanzania Private Sector Foundation (TPSF). On behalf of the Chinese Embassy, I would like to extend my warm welcome to all of you.

Private sector development has always received great attention from the international community and national governments. Chinese private sector enterprises have witnessed the whole process of reform and opening up, and keep growing with the development of China's economy. At present, there are more than 8.4 million registered private enterprises in China, becoming the largest enterprise groups, 74% of the total number of enterprises all over China. Their total registered capital is more than 19 trillion yuan. There are over 34 million individually-owned business, with a registered capital over 1.3 trillion yuan . The private sector 's total exports are more than 450 billion U.S. dollars, accounting for over 30% of China's total exports. There are more than 180 million people working in this sector, making it a main channel to expand social employment.

Chinese private sector will make bigger contribution to economic growth in future. With the significant increase of their numbers and capital scale, the private economy will further play the role of the main provider of jobs, become an important force to promote social harmony and stability. Private enterprises will become innovators of hi-tech and important leaders of new industry, with their growing levels of management, initiatives on independent innovation, more tech-input and R&D capability. Market-based, professional manager team will come into being and grow fast, playing a bigger role in economic and social development. Growing sense of social responsibility will lead private entrepreneurs to play bigger role in promoting employment, improving people's livelihood.

The private sector has become an important force in China's "going out" to the world. Among over 500 Chinese enterprises investing in Tanzania, more than 80% are private enterprises. They brought Tanzania people quality Chinese goods at reasonable price, created over 150,000 job opportunities, greatly improved Tanzania people's lives. What is more important is that they brought advanced production technology and management ideas, trained a large number of local talents for the country's industrialization and enhance capability-building.

We are pleased to see that the private sector has also become an important force in promoting the economic development of Tanzania, and the TPSF plays an indispensable role in it. Since its inception in 1998, TPSF adhere to the principle of serving the private sector, actively safeguarding its interests, working on maintaining close communication with the government, and has important influence in the field of Tanzania economic and social development.

CBCT is the largest private sector organization in Tanzania. Its cooperation with TPSF starting today is of milestone significance. This cooperation will be a successful mutual beneficial cooperation. To Chinese side, it will help Chinese enterprises in Tanzania to better integrate themselves into local society, set up brands and images fast and help them find more business opportunities. To Tanzania friends, this will help them find better cooperation partners, quickly find cooperation opportunities, so as to get more development space. I believe the cooperation will not only benefit two countries' private sectors, but also will contribute to the healthy and long-term development of bilateral relations.

Lastly, I wish the success of your cooperation.

Thank you.