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China calls for closer cooperation on trade amid CAEXPO
 updatetime:2018-09-12 22:06:00   View:0 Source:CGTN

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"China would like to push for the Belt and Road Technological Innovation Action Plan with ASEAN countries and build regional technology transfer and cooperation networks. It will promote technology transfer and high-tech personnel training. It aims to provide strong technological and intellectual support for regional development," Han addressed.

This year's theme has to do with the Belt & Road Initiative and innovation. Representatives from some 27,000 companies from 30 countries have gathered in Nanning, capital of south China's Guangxi Zhuang Autonomous Region for the CAEXPO. 

Support for multilateral trade system

Amid global uncertainty, China and ASEAN have confirmed their commitment to the multilateral trade system. The China-ASEAN free trade zone, the biggest in the world between developing economies, has seen growth in the eight years since it was established. 

"ASEAN countries expressed their support for the multilateral trade system to promote free trade in the region. ASEAN Secretary-General Lim Jock Hoi has repeatedly expressed the ASEAN's opposition to trade protectionism and its support for the multilateral trade system," said Huang Xilian, Chinese Ambassador to ASEAN.

Bilateral trade, in particular, has been on a fast growth track. ASEAN is currently China's third largest trade partner, while China has been ASEAN's biggest trading partner for nine years with bilateral trade exceeding 200 billion US dollars in recent years.

"Chinese investments have expanded gradually from manufacturing, mining and retail, to electricity, water supply, telecommunications and services. Chinese firms have invested directly in over 4,000 companies in ASEAN economies, employing over 300,000 workers," said Gao Yan, Vice Commerce Minister.


Web Editor:MXJ