China, ASEAN should deepen co-op in investment: VP

17  January 2013

NANNING — China and ASEAN should work more vigorously to deepen cooperation in two-way investment, Vice President Xi Jinping said here Friday.

Xi made the remarks at the opening ceremony of the 9th China-ASEAN Business and Investment Summit and 2012 Forum on China-ASEAN Free Trade Area in Nanning, capital of south China’s Guangxi Zhuang autonomous region.

In the second decade of this century, China will continue to combine “bringing in” and “going global,” guide its enterprises to make overseas investments in an orderly way and actively work on cooperation projects designed to improve on local infrastructure and people’s welfare, Xi said.

ASEAN countries are among the top destinations of Chinese enterprises “going global” and also are a key source of foreign investment in China, Xi said.

In recent years, investments in ASEAN countries by Chinese enterprises have increased rapidly, with areas expanding from traditional construction and project contracting to new energies, manufacturing, business service and other new areas, according to Xi.

While setting up economic and trade cooperation zones inside ASEAN countries, China will also encourage capable Chinese enterprises to expand their investment in ASEAN countries, he said, adding that China will, as always, welcome investment in China by enterprises from ASEAN countries, particularly in China’s central and western regions where mutually-beneficial cooperation between the two sides promises huge potential returns.