Xu: ASEAN doesn't financially rely on China
- By Zhang Rui
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E-mail China.org.cn, January 25, 2013
An official with China-ASEAN Business Council said yesterday that China is not the only nation ASEAN nations should rely on, at a China-ASEAN New Year party held in Beijing.
Xu Ningning, Executive Deputy Secretary-General of the China-ASEAN Business Council, didn't agree with the commonly-heard recent notion that "ASEAN relies on the United States for its safety and relies on China for its economy."
He said during more than 20 years of relations with ASEAN, especially 10 years of building the China-ASEAN Free Trade Area, economic cooperation has grown rapidly and China has become the number one trade partner of ASEAN. China also was a powerful aide in helping Southeast Asia recover from the 2008-2009 financial crisis.
In 2012, China's trade surplus with ASEAN was US$8.5 billion, Xu said. As for investments, the US, Japan, the EU and Korea all invested more into ASEAN than China did, and China's investment in ASEAN was also less than ASEAN's investment in China. Furthermore, the investments of developed countries focused on resources and engineering, while China focused on manufacturing and services.
Xu pointed out that some ASEAN officials implied that Chinese enterprises are snatching resources, which is wrong and prejudiced. These accusations, however, have called China to attention, he said. If Chinese enterprises explore resources then extend the industry chain, investing in resource processing and manufacturing, this will match the needs of ASEAN nations which are actively upgrading their industrial structure.
"ASEAN relies on China for its economy" is a premature conclusion and even an misunderstanding, he said, which will lead China to formulate wrong policies and will also anger ASEAN countries.
"The China-ASEAN relationship is very important," Xu said. "The mainstream is friendly cooperation and development, but to maintain this mainstream and explore the new phase of the cooperation needs both sides' efforts and China's (including government's, entrepreneurs', experts', press' and people's) right judgment and hard work together."
During the China-ASEAN New Year party, the China-ASEAN Business Council announced 10 successful Chinese enterprises doing business in ASEAN countries and 10 successful ASEAN enterprises doing business in China, as well as outstanding Chinese and ASEAN entrepreneurs. Enterprises and entrepreneurs such as China UnionPay Singapore, Keppel Land China, China International Water & Electric Corp.'s general manager Wang Yu and Tan Sri William Cheng Heng Jem, the Chairman and Chief Executive Officer of the Lion Group, Malaysia received awards.
In 2012, China-ASEAN trade created a new high point in history, surpassing US$400 billion, a 10.2 percent increase from last year. China has been ASEAN's largest trade partner for four consecutive years and ASEAN remains the third biggest trade partner of China.
The China-ASEAN Free Trade Area was established on Jan. 1, 2010. ASEAN, the short term for the Association of Southeast Asian Nations is a geopolitical and economic organization of ten countries located in Southeast Asia which include Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, Burma (Myanmar), Cambodia, Laos, and Vietnam.
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