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The fifth Pan-Beibu Economic Cooperation Forum has begun in Nanning, the capital of south China's Guangxi Zhuang Autonomous Region. It aims to enhance economic cooperation between China and southeast Asian nations.
This time, the Pan-Beibu Economic Cooperation Forum will concentrate on relations within the China-ASEAN Free Trade Area, and the Pan-Beibu Gulf Economic Region.
Chinese Vice Commerce minister says the country is speeding up investment in ASEAN. And the region has become the number one Chinese investment destination.
Yi Xiaozhun, Vice Minister of Chinese Commerce Ministry said "China's non-financial investment in ASEAN has reached more than 1.2 billion US dollars in the first half of this year."
China's Guangxi Zhuang Autonomous Region also signed shipping agreements with Singapore and Thailand. The cooperation between China and Pan-Beibu Gulf countries has been a boost for the shipping industry.
Chen Wu, Vice Chairman of Guangxi Zhuang Autonomous Region said "The throughput at the Guangxi Port has reached more than 54 million tons, up by more than 20 percent. And a big portion of that is from the Pan-Beibu Gulf region."
The Pan-Beibu Gulf region includes China's Guangxi, Guangdong, Hainan, and ASEAN countries like Vietnam, Malaysia and Singapore.
China's Guangxi has been developing fast, with an annual growth rate of more than 16 percent in the past four years.