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The China-ASEAN free trade zone came into being at the beginning of this year, liberalizing billions of dollars in goods and investments covering a market of 1.7 billion consumers. Guangxi Zhuang Autonomous region in south China is an important gateway between China and ASEAN. Our reporter Niu Yun has toured the autonomous region to check out how Guangxi is taking advantage of the world´s biggest free trade zone.
Guangxi Zhuang Autonomous region in south China is an important gateway between China and ASEAN. Our reporter Niu Yun has toured the autonomous region to check out how Guangxi is taking advantage of the world´s biggest free trade zone.
1. Guangxi has recorded 38% growth in trade with ASEAN in the first 7 months.
2. Trade between China and ASEAN countries reached nearly 130 bln USD in the first 6 months of this year, up more than half over the same period last year.
3. Another bold plan is to build some 5000 kilometer long railway starting from Guangxi´s capital city Nanning, crossing 7 countries and ending at Singapore.
Four ASEAN members including Vietnam are looking to 2015 when they become a part of the China-ASEAN free trade zone. But on the border, businesses continue to thrive. BizAsia correspondent Niu Yun travelled to Beilun River bridge, the most convenient land and water port for China and Vietnam.
1. In 2009 Dongxing´s total cross-border trade volume reached 7.5 bln yuan
2. Dongxing has become a gold mine for businesses from both countries.
3. Mong Cai, on the other side of the Beilun river, becomes Vietnam´s first and largest economic development zone as well.
When talking about China-ASEAN cooperation in the Agricultural sector, it´s natural to think about how convenient residents in Guangxi could buy fruit from these Asian nations. In fact, transactions in the sector between China and ASEAN are more than that.
1. In H1 of 2010, China imported more than 360,000 tons of fruit from ASEAN countries, up nearly 1/4 over the same period last year.
2. For investors coming to China, they could enjoy free operating taxes and other supportive measures from local governments.
3. A growing number of smaller businesses from Asian countries are bringing their expertise and weaving their own dreams on China´s lands.
Electronic products take a lion share in China-ASEAN trade. Facing shrinking demand in the US and EU, many Chinese companies are turning to ASEAN markets.
1. Beihai sets the target in 2009 that it would become a silicon valley in the region.
2. China-ASEAN FTZ allows more products, including PC´s, in the tax-free category.