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Many Profits will Boost 2017 China-ASEAN Economic and Trade Relations

Copyfrom:Economic Information DailyPost Time:2017-05-24 17:01:38

Economic Information Daily News (20 January, 2017): China-ASEAN bilateral trade volume in 2016 declined, but politicians and business people interviewed by reporters predicted that in 2017 with the internationalization of the RMB, the deepening of production cooperation and the broader bilateral investment and other factors, business relationship between China and ASEAN will be continued to go well. 

At the China-ASEAN Celebrating New Year 2017& Enhancing Cooperation Activity co-hosted by China-ASEAN Business Council (CABC) and ASEAN Committee Beijing (ACB) few days ago, Thit Linn Ohn, H.E. Ambassador of Embassy of the Republic of the Union of Myanmar, said to the reporter that in 2017 China and Myanmar are expected to enhance trade and investment relations, and that the positive factors include "regional comprehensive economic partnership agreement" (RCEP) is expected to be reached this year. And also the degree of the internationalization of RMB, which has become the main means of payment, has been improved.

In light of the unfavorable data on the decline in China-ASEAN trade volume, Xu Ningning, the Executive President of China-ASEAN Business Council, said on the same day that it would help optimize the trade structure. He said, “By transferring trade relations into investment relations, many Chinese enterprises have seized the business opportunities and move their factories to ASEAN to make the transformation a reality. And the increasing investment means larger future growth in economy and trade. Besides, the decline of bilateral trade volume will in return help to promote the upgrading of the industrial structure, thus further optimize the trade structure.”

He also stressed that deepening production capacity cooperation is a major starting point for the future upgrading of China-ASEAN economic and trade relations, and advocated to combine the construction of the China-ASEAN Free Trade Area with production capacity cooperation.

Singmeng Telemedia Co., Ltd a Chinese radio and television operator, also said that it will make use of RCEP policy “dividend” and the current situation of Chinese-ASEAN industrial complementation to deepen its market business in Cambodia in 2017. The Company’s President Wang Xiaohua told reporters that, as for the relatively backward Myanmar market, the Company will fill the short board of domestic industry through advanced digital technology services and diversified content.

Zhang Hongqiang, the President of GuangZhou Leimeng Machinery Equipment Co.,Ltd., also told reporters that the Southeast Asian market has accounted for 30% of the Company's exports, and the new production lines, which is being built in Cambodia, have made preparations for ASEAN to export more machinery and equipment.

The cooperation between China and ASEAN is becoming more and more extensive. Except the primary products, ASEAN countries also pay much attention to China's tourism industry. Mr.Tan Sri Lim Gait Tong, the Board Chairman of Farlim Group (Malaysia), said to reporter that he was optimistic to China’s tourism consumption and tourism real estate. “With the improvement of China's consumption capacity and the acceleration of urbanization, China's tourism industry will accelerate the release of its potential to welcome a golden growth period.”. According to him, by the end of this year, the first phase of “ASEAN International Eco-City” project with a total investment of 15 billion RMB will be completed in Dezhou of Shandong Province, building a platform for ASEAN SMEs to seek cooperation projects in China and thus achieving wider investment cooperation.


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