China encourages companies to invest in ASEAN countries
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Xinhua, October 23, 2011
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?in Nanning?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 U.S. dollars by the end of August, and Chinese companies made a total investment of 22.3 billion U.S. dollars 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.
