Report: China's Participation in Greater Mekong Subregion Cooperation
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Xinhua, December 17, 2011
II. Economic and Trade Relations Between China and the Other GMS Countries
Since the third GMS summit in 2008 and especially since the establishment of the China-ASEAN Free Trade Area, bilateral trade between China and the other GMS countries has demonstrated a momentum of greater development with a further improved trade structure and fast increase in bilateral investment. China has also participated, in the form of joint ventures or wholly Chinese-invested enterprises, in the development and construction of economic and trade cooperation zones in Cambodia, Thailand and Vietnam, and has thus boosted local economic development.
1. Bilateral Trade and Investment with Cambodia
In 2010, bilateral trade between China and Cambodia reached 1.44 billion dollars, up by 27.4 percent over 2008. China's export to and import from Cambodia were 1.35 billion dollars and 90 million dollars respectively, up by 23.9 percent and 125.0 percent over 2008. In terms of commodity categories, China's main exports to Cambodia were textiles, electromechanical products, hi-tech products, garments, steel and agricultural products and its main imports from the country included natural rubber, garments, sawn timber, log and agricultural products. By the end of 2010, Cambodia had accumulatively invested 120 million dollars in China, while China accumulatively had made direct investment of 1.13 billion dollars in Cambodia.
Besides, the Sihanoukville Special Economic Zone in Cambodia, a joint venture of Chinese and Cambodian companies, covers a planned area of 11.08 square kilometers and houses such industries as light industry, textiles, garments, machinery, electronics and hi-tech industries. The first phase of the zone, with a planned area of one square kilometer, was completed by the end of 2008; the second phase has a planned area of 5.28 square kilometers. By August 2011, 15 enterprises had set up operations in the zone, investing 32.70 million dollars and hiring 3,535 people.
2. Bilateral Trade and Investment with the Lao PDR
In 2010, bilateral trade between China and Laos reached 1.05 billion dollars, up by 150.0 percent over 2008. China's export to and import from Laos were 480 million dollars and 570 million dollars respectively, up by 77.8 percent and 280.0 percent over 2008. In terms of commodity categories, China' s main exports to Laos were electromechanical products, textiles, garments, hi-tech products, automobiles and motorcycles, and its main imports from the country were copper ore, rolled copper, farm produce, sawn timber and natural rubber. By the end of 2010, Laos had accumulatively invested 37.61 million dollars in China, and China's direct investment in Laos had accumulatively reached 850 million dollars.
3. Bilateral Trade and Investment with Myanmar
In 2010, bilateral trade between China and Myanmar reached 4.44 billion dollars, up by 68.8 percent over 2008. China's export to and import from Myanmar were 3.48 billion dollars and 9.6 million dollars respectively, up by 75.8 percent and 47.7 percent over 2008. In terms of commodity categories, China' s main exports to Myanmar were textiles, hi-tech products, rolled steel, motorcycles and automobiles, and its main imports from the country included agricultural products and log. By the end of 2010, Myanmar had accumulatively invested 89.72 million dollars in China, and China's direct investment in Myanmar had amounted to 1.95 billion dollars.
4. Bilateral Trade and Investment with Thailand
In 2010, bilateral trade between China and Thailand reached 52.95 billion dollars, up by 28.4 percent over 2008. China's export to and import from Thailand were 19.75 billion dollars and 33.20 billion dollars respectively, up by 26.5 percent and 29.5 percent over 2008. In terms of commodity categories, China' s main exports to Thailand were electromechanical products, hi-tech products, textiles and farm produce and its main imports from Thailand included electromechanical products, hi-tech products, natural rubber and farm produce. By the end of 2010, Thailand had accumulatively invested 3.29 billion dollars in China, and China's direct investment in Thailand had amounted to 1.08 billion dollars.
The Rayong Industrial Park jointly invested by Chinese and Thai companies covers a planned area of 3.5 square kilometers, including a general industrial zone, a bonded zone, a logistics zone and a commercial and residential zone. Major industries include automotive components, machinery and home appliances. By August 2011, 34 enterprises had landed in the park, with a total investment of 315 million dollars and 1,991 local employees.
5. Bilateral Trade and Investment with Vietnam
In 2010, bilateral trade between China and Vietnam reached 30.09 billion dollars, up by 54.6 percent over 2008. China's export to and import from Vietnam were 23.11 billion dollars and 6.98 billion dollars respectively, up by 52.8 percent and 60.8 percent over 2008. In terms of commodity categories, China's main exports to Vietnam were electromechanical products, textiles, hi-tech products, rolled steel and agricultural products, and its main imports from Vietnam included electromechanical products, coal, hi-tech products, agricultural products, textiles, crude oil and natural rubber. By the end of 2010, Vietnam had accumulatively invested 120 million dollars in China, and China's direct investment in Vietnam had amounted to 990 million dollars.
The Longjiang Industrial Park in Vietnam developed by Chinese enterprises covers a planned area of 6 square kilometers, and consists of an industrial area of 5.4 square kilometers and a residential and service area of 0.6 square kilometers. Its main industries include textiles, light industry, machinery, electronics, building materials and chemical industry. By the end of August 2011, 11 enterprises had landed in the park, with a total investment of 68.6 million dollars and 529 local employees.
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