China encourages companies to invest in ASEAN countries
Updated: 2011-10-22 17:33
(Xinhua)
|
|||||||||||
NANNING -- The Chinese government encourages domestic companies to invest in ASEAN countries and will provide necessary supports to them, Vice-Minister of Commerce Gao Hucheng said here on Saturday at the eighth China-ASEAN Expo.
Gao said two-way investment between China and the Association of Southeast Asian Nations (ASEAN) totaled $90 billion by the end of August, and Chinese companies made a total investment of $22.3 billion in ASEAN countries by August.
"Since the establishment of the China-ASEAN Free Trade Area (CAFTA) in 2010, investment between both sides has entered a stage of more rapid expansion," Gao said.
Gao also said China will strive to build economic and trade cooperation zones with all ASEAN countries separately in five years to serve as platforms for Chinese companies' investment in the region.
The eighth China-ASEAN Expo kicked off in Nanning, capital city of south China's Guangxi Zhuang autonomous region on Friday, with economic cooperation and environmental protection at the top of the agenda.
ASEAN is made up of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
Related Stories
Work underway on China-ASEAN yuan trade settlement agreement 2011-10-22 14:22
China-ASEAN fund invests $50m in Laos potash plant 2011-10-22 10:54
Push forward ASEAN ties 2011-10-22 08:06
China, ASEAN members eye cooperation for regional growth 2011-10-22 08:04
- China-Germany trade to hit new highs
- Sany to increase investment in US
- China to increase natural gas supply this winter
- Crude steel output up 10.7% in Q1-Q3
- China's coal market to remain stable
- CSR spends 5b yuan on new manufacturing base
- China's inflation is likely to remain high
- China nuclear targets to be cut
