``China`s Foreign Debt Would Increase after Becoming a Member of WTO,

While the international financial center urged China to prepare for the counter strategy for the upward evaluation of the Chinese wian last month, the World Bank also forecasted that the pressure for the upward evaluation of wian would increase due to the increase of foreign funds influx after China becomes a member of the World Trade Organization (WTO).

Hong Kong`s daily newspaper Myong forecasted yesterday, quoting the report of the World Bank, that the pressure for the upward evaluation of wian would increase since the huge amount of foreign funds would inflow to China along with the increase of trade after China becomes a member of the WTO.

The report forecasted that China`s trade would increase to 6.2 percent of the amount of world trade five years after it became a member of the WTO, exceeding the current 4.5 percent, along with 0.5-2 percent of the growth effect of the GDP.

Prior to this, the international financial center pointed out that the upward evaluation trend continued by recording an average 8.29 wian and 8.27 wian per one US dollar in January 1997 and September 2001, respectively, and wian is exchanged to US dollar at 8.15 to 8.25 per US dollar in the 10 major cities, which is higher than the official currency rate.

Major investment banks, such as Morgan Stanley, ING Bearing, Prudential, and ABN Amro also anticipate that once China becomes a member of the WTO, it would bring forth the pressure to evaluate wian upwardly since the direct investment and portfolio investment increase.