Sound growth for China's GDP, says Li
Source: Xinhua |
October 21, 2009, Wednesday
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Print Edition
Print Edition
THE Chinese economy is developing soundly and experiencing economic growth on a monthly basis, Chinese Vice Premier Li Keqiang said in Nanning yesterday.
The remarks were made at the opening ceremony of the China-ASEAN Business and Investment Summit, which was held simultaneously with the China-ASEAN Expo from yesterday to Saturday in Nanning, capital of south China's Guangxi Zhuang Autonomous Region.
Li also mentioned that ASEAN members were starting to come out of the recession and the positive changes in the economies of China and ASEAN benefited from their stimulus packages and closer economic cooperation.
With the establishment of the China-ASEAN Investment Cooperation Fund that provides US$15 billion of credit to ASEAN countries in the next three to five years, and the currency swap agreements with Indonesia and Malaysia, China has strengthened economic ties with the bloc to overcome the crisis, he said.
Li pointed out that economic ties between China and ASEAN have deepened and they are currently each other's fourth-biggest trade partners.
In the face of the global financial crisis, the two sides had seen bilateral trade volume nearing US$150 billion and mutual investments reaching US$60 billion in the first nine months of this year, he said.
A Free Trade Area between China and ASEAN that will also be realized by January 1, 2010, will have a population of 1.9 billion, a trade volume of US$4.5 trillion and a combined gross domestic product of US$6 trillion.
The annual China-ASEAN Expo was proposed by Chinese Premier Wen Jiabao in 2003 as a platform for business leaders in the region to exchange views on accelerating economic development and to create a better trade environment.
The remarks were made at the opening ceremony of the China-ASEAN Business and Investment Summit, which was held simultaneously with the China-ASEAN Expo from yesterday to Saturday in Nanning, capital of south China's Guangxi Zhuang Autonomous Region.
Li also mentioned that ASEAN members were starting to come out of the recession and the positive changes in the economies of China and ASEAN benefited from their stimulus packages and closer economic cooperation.
With the establishment of the China-ASEAN Investment Cooperation Fund that provides US$15 billion of credit to ASEAN countries in the next three to five years, and the currency swap agreements with Indonesia and Malaysia, China has strengthened economic ties with the bloc to overcome the crisis, he said.
Li pointed out that economic ties between China and ASEAN have deepened and they are currently each other's fourth-biggest trade partners.
In the face of the global financial crisis, the two sides had seen bilateral trade volume nearing US$150 billion and mutual investments reaching US$60 billion in the first nine months of this year, he said.
A Free Trade Area between China and ASEAN that will also be realized by January 1, 2010, will have a population of 1.9 billion, a trade volume of US$4.5 trillion and a combined gross domestic product of US$6 trillion.
The annual China-ASEAN Expo was proposed by Chinese Premier Wen Jiabao in 2003 as a platform for business leaders in the region to exchange views on accelerating economic development and to create a better trade environment.
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