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The signing ceremony of the 12th China-ASEAN Expo International Economic Cooperation Projects was held in Nanning on Sept 19.

The business officers and diplomats of China and seven ASEAN countries, namely Cambodia, Indonesia, Laos, Myanmar, Singapore, Thailand and Vietnam, and leaders of Jiangxi, Jilin, Hunan and Guangxi attended the ceremony and witnessed the signing.

A total of 62 international economic cooperation projects involving logistics, new equipment manufacturing, finance and trade, hi-tech and information software services were signed at the ceremony.

The signing ceremony was highlighted in four aspects.

First, the effect of the Belt and Road Initiative is obvious. The number of projects involving “the 21st Century Maritime Silk Road” industry has exceeded 20, an increase about 50 percent compared with last session, which indicates that regions all over China have directly transferred the support policies in Free Trade Area into real business opportunities.

Second, the economic and trade cooperation between China and ASEAN countries has become mature with coordinated development. China and ASEAN countries signed 15 cooperation projects at this ceremony, seven of which are projects of China to invest in ASEAN countries.

Third, the structural optimization of the signed projects is obvious and will help drive the transformation and upgrading. At this ceremony, the proportion of projects involving the primary and tertiary industries increased. High-end manufacturing industries have made rapid growth, while traditional, low-end industries have sharp decline.

Fourth, the China-ASEAN Expo has become a big world's economic and trade cooperation platform where the major projects drive the strong development of various industries. The investment source countries also have new changes. Mutual investment with the United States, Canada, Portugal, Australia, Mauritania and Japan has emerged.

The signing ceremony of the 12th China-ASEAN Expo China Domestic Economic Cooperation Projects held on the same day witnessed the signing of 107 economic cooperation projects. The enterprises participating include those from Guangdong, Beijing, Fujian and Shanghai as well as those directly under central government.

This signing ceremony of the domestic economic cooperation projects were highlighted in three aspects.

First, the quality of the singed project has been greatly improved. Two large projects are more than 10 billion yuan ($1.57 billion), three above 5 billion yuan and 37 above 1 billion yuan. The projects are all contractual projects with high maturity.

Second, the pragmatic cooperation has promoted industrial upgrading. The signed projects at this ceremony involve more than 10 areas including new manufacturing, new energy and new materials. The new equipment manufacturing, high-tech information, modern logistics, new energy, new materials, finance, science and technology, agricultural industrialization projects are the main body and account for about 70 percent of the total amount.

Third, the Chinese enterprises actively participated in it. Businessmen from various regions were enthusiastic and more than 19 Chinese provinces and cities participated in the signing. The number of projects contracted has exceeded 100 for the first time, which is the highest compared to the previous ceremonies.