China calls for more investment between China, ASEAN

[aimarraul]

China calls for more investment between China, ASEAN
(Xinhua)
Updated: 2010-08-13 22:00
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NANNING - Bilateral investment between China and Association of Southeast Asian Nations (ASEAN) is low compared with bilateral trade volume, a senior official of China's Ministry of Commerce (MOC) said Friday.

Yi Xiaozhun, vice minister of the MOC, made the statement at the ongoing fifth Pan-Beibu Gulf (PBG) Economic Cooperation Forum in Nanning, capital of southwestern China's Guangxi Zhuang Autonomous Region.


In 2009, bilateral investment between China and ASEAN nations totaled $10 billion, a sharp contrast with the $213 billion of bilateral trade, said Yi, attributing the low investment to the fragmented infrastructure system within the China-ASEAN region.

"Take the Bangkok-Kunming railway as an example. Because the railway has different standards for load capacity in the Chinese and Thai parts, goods need to be unloaded and reloaded when they reach the border, adding to cost and lowering efficiency."

Yi also called for more efforts to produce a sound legal system for investment.

He also called for policy transparency and stability.

In the first half of the year, China-ASEAN trade totaled $136.5 billion, up nearly 55 percent from the same period last year.

Exports to ASEAN countries hit $64.6 billion, up more than 45 percent year on year.

Imports from ASEAN countries totaled nearly $72 billion, up 64 percent year on year, according to the MOC.

 

[mike05]

"Take the Bangkok-Kunming railway as an example. Because the railway has different standards for load capacity in the Chinese and Thai parts, goods need to be unloaded and reloaded when they reach the border, adding to cost and lowering efficiency."
.

I traveled that route and I must say Railway investment in SEA is very poor, in fact its probably one of the worst railways I've been on and I've been on loads.

But Bangkok needs to clean up it political arena first, no one will invest in a country that constantly has coups, riots and what not.

 

[aimarraul]

Nanning corridor to boost trade
By Huang Zhaohua (China Daily)
Updated: 2010-08-14 10:47


Nanning - The proposed Nanning-Singapore Economic Corridor will boost the volume of freight transported between China and the Association of Southeast Asian Nations (ASEAN) in the next 10 years, a senior researcher said on Friday.

Li Xinghua, President of the Transport Planning and Research Institute under the Ministry of Transport said the corridor may reshape Pan Beibu Bay area as an important economic channel.

The construction of the "Nanning-Singapore Economic Corridor" became the highlight for cooperation between China and ASEAN nations at the 5th Pan-Beibu Gulf Economic Cooperation Forum.

The Guangxi Zhuang autonomous region proposed the project in 2006 as part of the plan to bolster regional economic cooperation.

The "Nanning-Singapore Economic Corridor", the cross-border economic channel between China and ASEAN, starts from Nanning and traverses Hanoi in Vietnam, Vientiane in Laos, Phnom Penh in Cambodia, Bangkok in Thailand, Kuala Lumpur in Malaysia, and Singapore.

Yi Xiaozhun, vice-minister of commerce, said China's exports to ASEAN rose by 45 percent to $64.6 billion during the first half of the year, while imports from ASEAN grew 64 percent to $71.9 billion, over the corresponding period last year.

ASEAN has also emerged as the favorite destination for Chinese companies in their overseas expansion plans.

Guo Shengkun, Chairman of the Standing Committee of Guangxi People's Congress, said the establishment of China-ASEAN Free Trade Agreement has brought new opportunities to the Pan-Beibu Gulf economic cooperation.

John Wong, a professor at the East Asian Institute of National University of Singapore, said the economic corridor will be beneficial for industrial and agriculture development. The ASEAN nations will actively participate in the construction of the Nanning-Singapore Economic Corridor, he said.

"Infrastructure construction is an important step in the Nanning-Singapore Corridor," said Michael Yeoh, chief executive of the Asian Strategy and Leadership Institute of Malaysia.

Vietnam's Vice-Minister for Transport Le Manh Huang said it was important for the ASEAN nations to streamline the regulations and formalities.

The railway line between Nanning and Singapore has been almost joined up and 10 of the 24 planned international transportation channels have been opened.

Guangxi has already reached a consensus with Vietnam for setting up two highways.

 

[lcloo]

I am looking forward to the days when I can travel from Singapore to China. Air travel has too much hassle, and airports are always long distance from city centers.

 

[mike05]

I am looking forward to the days when I can travel from Singapore to China. Air travel has too much hassle, and airports are always long distance from city centers.

We had high hopes when a high speed rail was proposed between KL and Singapore but that was dashed because the Msia government pulled the carpet from under the project. (Singapore is the Malaysian government's whipping boy). Maybe if China backs it up the project will see the light of day, fingers crossed.