US President George W. Bush has praised China's opening up policy and economic growth, saying the Chinese people enjoy better opportunities now than they ever have before in their history.

According to the official text of a speech which he will give in Tokyo on Wednesday, President Bush says, "in the late 1970s, China's leaders took a hard look at their country, and they resolved to change.

They opened the door to economic development and today the Chinese people are better fed, better housed, and enjoy better opportunities than they ever have in their history."

The US President urges China to "continue down the road of reform and openness."

He also says "China can play a positive role in the world. We welcome the important role China has assumed as host of the six-party talks aimed at bringing peace to the Korean peninsula."

"Frank discussions" with Hu Jintao

In his speech, President Bush also urges China to take action to reduce its huge trade surplus with the US.

He recalls his meeting with Chinese President Hu Jintao in New York in September. He says the US welcomes President Hu's pledge that China will bring more balance into bilateral trade and protect intellectual property, as well as China's announcement in July of a more flexible, market-based exchange system for its currency.

President Bush says these statements are a good beginning but China needs to take action to ensure that these goals are implemented.

He says "we need to find solutions to our trade differences with China and I look forward to frank discussions with President Hu at APEC and in Beijing."

The US President also says the textile agreement the two countries reached last week has brought certainty and predictability for businesses in both America and China, saying "it shows that with hard work and determination, we can come together to resolve difficult issues."

Both President Bush and President Hu Jintao will be in Seoul to attend the APEC (Asia-Pacific Economic Cooperation) leaders' meeting this week. The US President will visit China after the meeting.

"Our one-China policy remains unchanged"

Also in his Tokyo speech, President Bush reiterates US support for the one-China policy and urges the Chinese mainland and Taiwan to settle their differences peacefully.

He says, "Our one-China policy remains unchanged. It is based on the three communiques, the Taiwan Relations Act and our belief that there should be no unilateral attempts to change the status quo by either side."

President Bush goes on to say the US will continue to stress the need for a dialogue between the Chinese mainland and Taiwan "that leads to a peaceful resolution of their differences."

Source: CRI news