CAEXPO injects new impetus to Nanyang economy
Source: ChinaDaily Time:2016-09-21 11:59:18
Major investment projects in Nanyang, Henan province attracted deals worth 270 million yuan ($40.47 million) at the 13th China-ASEAN Expo (CAEXPO), which concluded on Sept 14.
Photoed by Wu Chaoxiong
Government representatives tabled 12 projects from the city at CAEXPO, seeking a total of 3.7 billion yuan. Cooperation deals for two projects were penned, after a detailed presentation of the city's current economic situation and industrial development was given.
The bulk of the projects were centered on infrastructure construction and equipment supply, providing lucrative investment opportunities for equipment manufacturing enterprises.
Dongsheng Electric Corporation signed a 150-million-yuan deal to produce 300,000 electrical products annually, while another deal penned at the expo will see GS Technology Plastic Pipe invest 120 million yuan to produce metal alloys and building materials.
CAEXPO initiated in 2004 and is co-sponsored by the 10 ASEAN member states and the ASEAN Secretariat. The event has gained international influence since its inception and plays an important role in promoting cooperation between China and ASEAN countries.
Nanyang has taken an active part in the CAEXPO to strengthen cooperation in merchandise trade, investment and cultural exchanges with ASEAN member countries. The city's import and export trade between ASEAN countries topped $4 billion in the first half of this year.