China-ASEAN Expo opens

World Today

China-ASEAN Expo opens

The 13th China-ASEAN Expo has opened in Nanning, capital of south China’s Guangxi Zhuang Autonomous Region. This year’s expo highlights industrial cooperation, trade and investment among China, ASEAN members AND other countries throughout the Belt and Road region. The four-day event has attracted more than 2,500 companies from 29 countries. At this morning’s opening ceremony, China’s Vice Premier Zhang Gaoli promised more investment and said China’s economic initiatives will benefit ASEAN nations. CCTV’s Su Yuting has more.

China-ASEAN Expo opens

China-ASEAN Expo opens

The 13th China-ASEAN Expo has opened in Nanning, capital of south China's Guangxi Zhuang Autonomous Region. This year's expo highlights industrial cooperation, trade and investment among China, ASEAN members AND other countries throughout the Belt and Road region. The four-day event has attracted more than 2,500 companies from 29 countries. At this morning's opening ceremony, China's Vice Premier Zhang Gaoli promised more investment and said China's economic initiatives will benefit ASEAN nations. CCTV's Su Yuting has more.

With an expanding free trade area, plus more business and investment, China and its southeastern neighbors are seeking closer economic ties. This year’s China-ASEAN Expo picks up on China’s Belt and Road initiative, an economic belt to connect the bloc with world’s second largest economy.

“We will make China’s 21st Century Maritime Silk Road initiative serve ASEAN’s development,” said Zhang Gaoli, Chinese vice premiere. “We call for more pragmatic cooperation to achieve a win-win relationship. We will also help to shorten economic gaps among ASEAN nations.”

For 13 years, the Expo has been serving as a bridge to promote ASEAN exports to China, and China’s investment in ASEAN. This year it’s attracted over 2,600 companies.
Many ASEAN exhibitors bring their local commodities, from farming produce, wooden furniture to handicrafts. And China has been pumping huge money and industrial capacity into building infrastructure in many ASEAN countries.

Zhang says to meet the different needs of ASEAN nations, China is willing to do more direct investment, contract for more projects, and export more technology and industrial equipment.

Many say economic ties are not only about exchanges of goods and money, but also about a more connective and united market.

This year’s expo is mainly focused on the construction of the Maritime Silk Road and the establishment of China-ASEAN Community of common destiny. A few days ago, the 19th China-ASEAN leaders’ meeting has adopted a joint statement on commemorating the 25th anniversary of the establishment of the China-ASEAN Dialogue Partnership, and a joint statement on China-ASEAN Production Capacity Cooperation. That will help upgrading the industrial structure and reform in the region.

China is ASEAN’s largest trade partner, and ASEAN has become China’s third largest trade partner since 2010. Mutual trade volume has reached 472 billion US dollars in 2015. Trade and economic cooperation will continue to play a prominent role in boosting China-ASEAN ties.