ACC Promotes Economic Cooperation and Trade between ASEAN Countries and Shanxi Province

On 12 August 2024, the ASEAN-China Centre (ACC), in collaboration with Shanxi Provincial People’s Government, hosted the ASEAN-China (Shanxi) Trade and Investment Promotion Seminar in Changzhi, under the framework of the ASEAN-China Week (ACW) 2024. The ACC Secretary General Shi Zhongjun, Minister Neth Pheaktra of Information of Cambodia, Special Envoy Benito G. Techico of the Philippine President to China for Trade, Investments and Tourism, Executive Vice Governor Wu Wei of Shanxi Province, and Mayor Chen Xiangyang of Changzhi City attended and addressed the audience.           

Shi Zhongjun said that the progressing negotiation on the ASEAN-China FTA (ACFTA) 3.0 and the benefits reaped from the RCEP implementation have strongly supported the trade facilitation, expansion of cross-border logistics channels, and deep integration of industrial and supply chains in our region, bringing the regional economy to a new stage of high-quality development. As a pilot locality for comprehensive reform in energy revolution, Shanxi has achieved significant breakthroughs in clean and low-carbon energy utilization, energy-related technological innovation, and energy cooperation with other countries. He hopes the seminar materialize more cooperation.

Wu Wei stressed that Shanxi Province has a solid industrial foundation and a profound industrial ecology in the fields of photoelectricity, photovoltaic, new energy, chemical industry, medicine and equipment manufacturing. He looked forward to the seminar, as an important platform, advancing bilateral trade and investment cooperation, thus contributing to Shanxi’s opening-up endeavors with greater breadth, depth and height. Chen Xiangyang elaborated on the advantages enjoyed by Changzhi in terms of its successful industrial transformation and upgrading for this resource-based city. He expressed the willingness to conduct closer economic cooperation and trade as well as people-to-people exchanges with ASEAN countries.

Neth Pheaktra underlined that Cambodia enjoys stable domestic political situation, significant demographic dividend and strong economic vitality, which provide excellent opportunities for cooperation in trade and investment and favorable business environment for the Chinese enterprises, including those from Shanxi. He looks forward to even greater progress in Cambodia-China cooperation. Benito G. Techico emphasized that the rise of digital economy, the advancement of green technology, the upgrading of infrastructure, and the transformation of the world trade patterns are reshaping the global market and industrial and supply chains. Through effective policy exchanges and alignment, all parties could cultivate strong, inclusive and sustainable mechanisms for innovation and growth, and foster continuous upgrading for ASEAN-China economic cooperation and trade to bring forth tangible benefits for the countries and peoples in the region.

At the policy promotion session, representatives in charge of economic and trade affairs from diplomatic missions in China from Indonesia, Laos, Malaysia, Myanmar and the Philippines gave presentations on investment promotion policies and the business environment conditions in the aforesaid countries. They also interacted with the present participants from Chinese business communities to answer their further inquiries. Director Yang Chunquan of Shanxi Provincial Investment Promotion Bureau briefed the ASEAN guests on Shanxi’s leading industries and investment policies. A detailed introduction on the newly-launched ASEAN-China Import and Export Service Platform was also shared and the participating Chinese enterprises introduced their progress made in such areas as building materials, new energy vehicles (NEV) and cross-border financial services. 

At the signing ceremony, cooperation agreements on automobile assembly, LED displays, traditional Chinese medicine materials, civil explosives and fine chemicals were inked, with a total value of RMB 150 million. After the Seminar, ASEAN diplomats and representatives from ASEAN business communities make a field visit to Changzhi High-tech Industrial Development Area.