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China, Asean seek business opportunities at Nanning expo


October 26, 2008

China, Asean seek business opportunities at Nanning expo
Business people from China and the Association of Southeast Asian Nations (Asean) are seeking opportunities for future development at the ongoing 5th China-Asean Expo here amid rampant global financial crisis, reported Chinese state news agency Xinhua.

"We want to order some rubber, fragrant rice and logs. These are specialties of Asean and take up a large share of China's domestic market," said Wang Yu, a trade company general manager from southeastern China's Fujian Province.

Asean countries are full of resources, including various farm produce, minerals, logs and rubber, which are necessities for China's rapid development. Asean also needs China's capital and technology to speed up their infrastructure building.

At the Expo, China and Asean countries have signed at least 80 contracts with a total investment of 51.9 billion yuan ($7.59 billion) on China's manufacturing, mineral exploitation and processing, tourism development, infrastructure, telecommunications, energy, agriculture and farm produce processing.

Environment protection and hi-tech industry are another two targets of cooperation. China and Asean have signed 13 projects with a total investment of 6.98 billion yuan at the expo, the largest in the past five expositions.

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