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By APD Writer Tao Xing
The 14th China-ASEAN Expo (CAEXPO) and the 14th China-ASEAN Business and Investment Summit (CABIS) officially kicked off on September 12 in Nanning City, south China’s Guangxi Zhuang Autonomous Region, with the them of “Co-building the 21st Century Maritime Silk Road, Promoting Regional Economic Integration through Tourism.”
The CAEXPO was held annually in Nanning by ministries/departments of commerce or industry and trade of China and the ten ASEAN member states as well as the ASEAN Secretariat. The expo, along with communication activities in various fields and at various levels, has created an important platform for deepening cooperation between China and ASEAN, and for developing the 21st Century Maritime Silk Road.
" Nanning channel ": right place, right time
ASEAN is the key region for the construction of Belt and Road Initiative in the south line. Chinese President Xi Jinping inspected Guangxi in April this year and said that Guangxi had the advantage of playing a greater role in the construction of the Belt and Road Initiative. Guangxi should make full use of its geographical location and the potential of coastlines, rivers and border areas to promote opening up, push forward the implementation of key projects, enhance the China-ASEAN opening-up platform and construct a new and comprehensive developmental pattern.
Chinese Vice Premier Zhang Gaoli addressed at the opening ceremony of the 14th CAEXPO. “After ten years of development, CAEXPO and CABIS have developed into an important bridge for China and ASEAN member countries to increase political trust, a key platform for implementing economic and trade cooperation, and a crucial link for deepening people-to-people exchange. I hope CAEXPO and CABIS can reach more common understanding, explore more business opportunities and reap more benefits while co-building the Belt and Road Initiative,” said Zhang.
Brunei is the Country of Honor this year. Brunei Sultan Hassanal Bolkiah expressed his confidence in and expectation for deeper partnership. “I believe the ASEAN Regional Comprehensive Economic Partnership (RCEP) will be realized in a quicker pace with the collective efforts from China and ASEAN member states, and thus build a modern, all-round and high-quality economic and trade partnership,” said the Sultan.
Guangxi has strong industrial capacity, managerial and investment experience while Brunei offers entry into a fast-growing global Muslim market, said the Sultan.
China has been ASEAN’s largest trading partner for eight consecutive years and ASEAN has been China’s third largest trading partner for six consecutive years. ASEAN has become one of the main destinations for overseas investment from Chinese enterprises. Bilateral trade between China and ASEAN reached US$452.2 billion in 2016, accounting for 12.3% of China’s total trade volume. Under an upgraded agreement of the China-ASEAN Free Trade Agreement (CAFTA), which was concluded in November 2015, ASEAN and China expect to raise bilateral trade to US$1 trillion by 2020, twice the current level.
Guangxi is connected with ASEAN countries by sea and land, and locates at an important place of the B&R Initiative. As the permanent home of CAEXPO, Guangxi’s advantage is gradually emerging.
The “forth growth pole” of coastal economy: Guangxi Beibu Gulf Economic Zone
Guangxi Beibu Gulf Economic Zone is located in the southwestern tip of China's coastal areas. Established in 2006, the Beibu Gulf Economic Zone comprises six cities: Nanning, Beihai, Qinzhou, Fangchenggang, Yulin and Chongzuo.
Because of the military conflicts between China and Vietnam during the early stage of Reform and Opening-up, Beibu Gulf area was not included into China's coastal economic layout. Compared to the Pearl River Delta (growth pole in the 1980s), the Yangtze River Delta (growth pole in the 1990s), and Circum-Bohai Sea Economic Zone (growth pole in the 2000s), Beihu Gulf area was ignored for about 30 years.
Nowadays, as the development of the above three zones begin to slow down, Beibu Gulf Economic Zone is playing an increasingly significant role in China's coastal economic layout. And it has the potential to become “the forth growth pole” of China’s coastal economy.
Beibu Gulf Economic Zone will not only serve the southwest and south of China, but can also connect southwest and central China with southeast Asian countries. Thus, it is a key area in the project of Western China's Development and cooperation with ASEAN countries.
The office of the Beibu Gulf Economic Zone announced at a press conference held on February 17, 2017 to strengthen its role in leading the economic construction of Guangxi and offering support to southwest China, and to promote its strategic position in B&R Initiative.
Model Innovation: China-Malaysia Qinzhou Industrial Park
The 2017 Promotion Conference on Investment Opportunities and Prospects of China-Malaysia Qinzhou Industrial Park was held on September 13 in Nanning, with the theme of “Developing ‘Two Countries, Twin Parks’, Seizing Opportunities of the Silk Road’.
The other industrial park of the “twin parks” was the Malaysia-China Kuantan Industrial Park. The pattern of joint development of industrial parks in the two countries greatly deepens China-Malaysia cooperation, is an exploration of the Belt and Road Initiative and of the upgraded agreement of the China-ASEAN Free Trade Agreement.
Gao Pu, deputy director of the administrative committee of China-Malaysia Qinzhou Industrial Park, said the traditional industrial park had its disadvantages as many big companies introduced in could not bring about actual benefits, and preferential policies like zero taxation aimed to attract enterprise were not advocated by Chinese government. Besides, the traditional industrial parks’ emphasis on asset-heavy and huge companies had resulted in overcapacity. All the factors call for new model of constructing industrial parks.
Currently, China’s social structure is undergoing fundamental changes. With urbanization rate reached 60 percent in the whole country and 56 percent in Guangxi, the products and service provided must change in accordance. “The features of the Qinzhou industrial park are high-tech, low-carbon and international. An innovative, modern and international industrial city is rising.” said Gao.
Also, as a forerunner in capitalization of government funds, Qinzhou park has set up many funds, enabling it to participate in investing in and cooperating with enterprises in the park. As a result it builds a new development pattern. With the internalization of renminbi, the park now promotes the free flow of capital between the two industrial parks.
Taking advantage of the Belt and Road Initiative and its geographical location,
Guangxi will play a more important role in the construction of the Belt and Road Initiative and contribute to the expansion of opening-up and cooperation. Meanwhile, Guangxi will gradually establish its own new model of development and add new impetus to its economic development.
(ASIA PACIFIC DAILY)
