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To: RealMuLan who wrote (36852)	8/1/2003 11:00:51 AM
From: RealMuLan	Read Replies (2) \| Respond to of 74559

Gold Fields eyes expansion in China, shuns U.S. Fri August 1, 2003 10:15 AM ET By Eric Onstad JOHANNESBURG, Aug 1 (Reuters) - South African miner Gold Fields Ltd GFIJ.J sees China as a key long-term frontier for expansion, and in the near term will target Africa rather than the United States, Chief Executive Ian Cockerill said on Friday. Gold Fields, which has been seeking to broaden its exposure outside South Africa, now earns around a third of its profits from operations in Ghana and Australia. China, previously ignored by major bullion producers due to its political situation, is attracting fresh attention. "We believe that China offers some huge potential for the future," Cockerill said at a results presentation. China has grown to be the among the world's five biggest gold producing countries, with record output of 190 tonnes last year. Last October, Gold Fields formed a 50-50 joint venture in Shandong, China's largest gold producing province, with Australia-listed Sino Gold SGX.AX . Gold Fields, the world's fourth-largest gold producer, also owns a 10 percent stake in Sino Gold, which aims to triple annual output to 300,000 ounces in three years. "The principal reason for going in there was to get access to their exploration ground," Cockerill told a trio of journalists following the presentation. "Geologically speaking it's very prospective... There's a lot of gold there," he added. In addition, the work force is educated while costs are low. Analyst Leon Esterhuizen of Investec Securities said China was becoming a hot exploration area. "He's (Cockerill) not the only one thinking that. AngloGold ANGJ.J is there and U.S. companies also." PREFERS AFRICA TO U.S. reuters.com Exports of China's IT Products Jump 47% China's exports of information technology products surged 47.1 percent year-on-year in the first half of the year to 56.9 billion US dollars, accounting for nearly 30 percent of the country's total foreign trade. english.peopledaily.com.cn The rest of the world shouldn't worry that China has made it August 2 2003 By Ross Gittins When the history of the world in the last 20 years of the 20th century and the first half of the 21st is written, a lot of space will be devoted to the rise of the mighty Chinese economy. In the meantime, China's remarkable rise as a global trading power is the theme of a recent article by Kieran Davies, chief economist of ABN Amro. theage.com.au