The twentieth anniversary of Jiangsu Cereals, Oils & Foodstuffs Import & Export (Group) Corporation arrives at a time when China is vigorously deepening its reform and quickening the establishment of a market economy. On this very happy occasion and on behalf of all the JCOF staff members, I would like to extend our sincere thanks to the governments and the functional departments at all levels, the domestic and overseas companies and enterprises, as well as individuals that have helped and supported us in various ways in the past. Recalling the past twenty years fills our heart with pride and joy. For us, it is an unusual experience of hard work and, at the same time, a period of steady development. Our annual turnover has kept rising ever since 1973, and our total export value has now reached three billion U.S. dollars.We have established trade relations with more than six hundred companies over seventy-five countries and regions in the world and have become a group corporation, with nine subsidiary cold storage warehouses and food processing plants, eleven joint-venture enterprises, four industry-agriculture-trade combined enterprises, and four overseas enterprises.The socialist market economy which is now taking shape in China will bring in new problem for us. We, therefore, need to quicken our steps in transforming our managerial structure and function and step up the move towards a conglomerated and internationalized enterprise to meet the challenges of an increasingly competitive market both at home and abroad. To achieve this goal, we must further strengthen the ties with our friends. We appreciate very much your cooperation and help.The span of twenty years could only be a short moment in human history, but it is long enough to witness the development of an enterprise. We shall take the twentieth anniversary as a newstarting point for our corporation. We are convinced that the establishment of a socialist market economy will greatly invigorate Jiangsu Cereals, Oils & Foodstuffs Import & Export (Group) Corporation, and that through more effective cooperation with you, our dear friends, the JCOF will surely make greater strides ahead.