China's investment in ASEAN maintains rapid growth
GOV.cn Friday, August 10, 2012
 Photo taken on Aug. 10, 2012 shows the scene of a press conference held by China's State Council Information Office in Beijing, capital of China. The State Council Information Office held a press conference on the cooperation between China and the Association of Southeast Asian Nations (ASEAN) in Beijing on Friday. (Xinhua/Li Fangyu)
China has maintained rapid growth in investing in neighboring countries in Southeast Asia in recent years despite the ongoing global financial crisis, Chinese Vice Minister of Commerce Gao Hucheng said Friday.

The Association of Southeast Asian Nations (ASEAN) has become a major destination of outward direct investment from Chinese enterprises, Gao said at a press conference.

According to Gao, Chinese companies invested 1.49 billion U.S. dollars in ASEAN countries in the first half of this year, registering a year-on-year increase of 34.3 percent.

Meanwhile, the ASEAN's investment in China rose 27.5 percent from a year earlier to 4.55 billion U.S. dollars in the January-June period.

Gao said that as of the end of June, accumulated two-way investment between China and ASEAN countries stood at about 93 billion U.S. dollars. In a breakdown, the ASEAN had 73.8 billion U.S. dollars of direct investment in China, accounting for 6 percent of the total foreign direct investment (FDI) China attracted.

Thanks to political mutual trust and economic complementarity between China and the ASEAN, Gao noted, China's investment in ASEAN countries will continue to grow rapidly in the long term.

"This kind of cooperation will make both sides winners," Gao said, adding that closer bilateral economic cooperation will not only create great opportunities for Chinese businesses, but also facilitate economic growth in ASEAN countries.

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Editor: An Lu
Source: Xinhua