China, Malaysia build joint industrial park

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Malaysian Prime Minister Najib Tun Razak and Chinese Premier Wen Jiabao (right) attend the opening ceremony of China-Malaysia Qinzhou Industrial Park in Qinzhou in South China’s Guangxi Zhuang Autonomous Region.

China and Malaysia have inked a number of agreements for projects forming part of the first industrial park jointly built by the two countries, authorities of the park announced on November 26 at a session in Beijing.

The park itself was launched in April 2012 in Southwest China’s Qinzhou city in Guangxi Zhuang autonomous region.

The joint steering council said that the projects have an investment value of $470 million and include food processing, biotechnology, components and parts production for motorcycle and engineering machinery.

It is expected that the annual output value of the park will reach $1.4 billion and will create thousands of jobs and downstream opportunities for locals.

“The industrial park is conducive to further cooperation between China and ASEAN nations and the development of strategic emerging industries, as well as pushing forward the leading positions of Guangxi and the Beibu Gulf economic zone in the free trade areas of China and the ASEAN,” said Zhang Xiaoqin, secretary of the Qinzhou Municipal Committee of the Communist Party of China.

The park, with a total planned area of 55 square kilometers near the port of Qinzhou was first proposed by Chinese Premier Wen Jiabao during his visit to Kuala Lumpur in April 2011.

It marked China’s first such cooperation with an ASEAN member country after the launch of the China-ASEAN Free Trade Area on January 1, 2010.

Statistics showed that bilateral trade between the two countries in 2011 reached $90 billion, making China Malaysia’s largest export market for the first time and maintaining its status as the Malaysia’s biggest source of imports.

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Reading Time: 2 minutes

Malaysian Prime Minister Najib Tun Razak and Chinese Premier Wen Jiabao (right) attend the opening ceremony of China-Malaysia Qinzhou Industrial Park in Qinzhou in South China’s Guangxi Zhuang Autonomous Region.

China and Malaysia have inked a number of agreements for projects forming part of the first industrial park jointly built by the two countries, authorities of the park announced on November 26 at a session in Beijing.

Reading Time: 2 minutes

Malaysian Prime Minister Najib Tun Razak and Chinese Premier Wen Jiabao (right) attend the opening ceremony of China-Malaysia Qinzhou Industrial Park in Qinzhou in South China’s Guangxi Zhuang Autonomous Region.

China and Malaysia have inked a number of agreements for projects forming part of the first industrial park jointly built by the two countries, authorities of the park announced on November 26 at a session in Beijing.

The park itself was launched in April 2012 in Southwest China’s Qinzhou city in Guangxi Zhuang autonomous region.

The joint steering council said that the projects have an investment value of $470 million and include food processing, biotechnology, components and parts production for motorcycle and engineering machinery.

It is expected that the annual output value of the park will reach $1.4 billion and will create thousands of jobs and downstream opportunities for locals.

“The industrial park is conducive to further cooperation between China and ASEAN nations and the development of strategic emerging industries, as well as pushing forward the leading positions of Guangxi and the Beibu Gulf economic zone in the free trade areas of China and the ASEAN,” said Zhang Xiaoqin, secretary of the Qinzhou Municipal Committee of the Communist Party of China.

The park, with a total planned area of 55 square kilometers near the port of Qinzhou was first proposed by Chinese Premier Wen Jiabao during his visit to Kuala Lumpur in April 2011.

It marked China’s first such cooperation with an ASEAN member country after the launch of the China-ASEAN Free Trade Area on January 1, 2010.

Statistics showed that bilateral trade between the two countries in 2011 reached $90 billion, making China Malaysia’s largest export market for the first time and maintaining its status as the Malaysia’s biggest source of imports.

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