16 | Tuesday, June 25, 2019 HONG KONG EDITION | CHINA DAILY BUSINESS Commodity expo to promote trade with South Asian nations KUNMING — Representatives at Yunnan, said Yunnan has become the just­ended South and Southeast more open with the help of better Asia Commodity Expo and Invest­ transport infrastructure and a batch ment Fair said the event has of cross­border cooperation pro­ brought more opportunities to Chi­ jects. na, South and Southeast Asian Infrastructure interconnectivity countries. has provided more opportunities to The expo, which was held from Thailand, said Sithichai Jindaluang, June 14 to 20 in Kunming, capital of deputy governor of Udon Thani Yunnan province, the country’s province, Thailand. major gateway to Southeast Asia The China­Laos­Thailand Inter­ and South Asia, has highlighted Chi­ national Railway Corridor will pro­ na’s closer ties with the region as it mote trade and investment among pushes forward the Belt and Road the three countries, he said. Initiative. Statistics show that the total trade With six major exhibition areas, volume between Southwest China’s 17 pavilions and 7,500 standard Yunnan province and the five coun­ booths, the exposition draws exhib­ tries in the Greater Mekong Subre­ itors from 74 countries, regions and gion increased 5.6 percent year­on­ international organizations. A total year in 2018. of 3,348 enterprises from home and Ruwan Edirisingh, president of abroad were present at the expo. the South Asian Association for Regional Cooperation Chamber of Commerce and Industry, said the $6.4 Southeast Asia Commodity Expo billion along with the China­South Asia Yunnan’s trade with members Exposition has boosted economic of the Association of Southeast exchanges between China and Asian Nations in the first five South Asia, which have maintained months of this year rapid economic growth in recent An employee polishes a Haval H6 sport utility vehicle, manufactured by Great Wall Motors Co, at the 2018 Moscow International Auto years. Show in Moscow, Russia. BLOOMBERG South Asia boasts abundant natu­ ral resources while China has obvi­ 140.1 ous advantages in financial and billion yuan industrial technology. Therefore, China’s imports and exports the two sides have great cooperation with South Asian countries in potential, Ruwan Edirisingh said, Chinese vehicle makers to tap 2018 adding that Chinese enterprises will enjoy more preferential policies when investing in South Asia. The main guest country this year China’s imports and exports with was Cambodia, which already has South Asian countries totaled 140.1 strong ties with Yunnan province in billion yuan in 2018, up 10.5 percent potential in global markets various sectors like health, educa­ year­on­year. tion and tourism. Tipu Munshi, Bangladeshi com­ Chhuon Dara, secretary of state at merce minister, said China has the Cambodian Ministry of Com­ become Bangladesh’s largest trade Companies make headway with JVs ton project manager, said after two wholly­owned full­process manu­ merce, said the BRI provides a plat­ partner and Bangladesh hopes Chi­ years of cooperation, they have facturing plant by any Chinese car­ form for international cooperation, na will expand the scale of invest­ and acquisitions in BRI economies seen encouraging progress. maker. boosts international exchanges, ment in the country, especially in Geely is helping Proton to The plant has a designed annual helps build a global economic sys­ infrastructure and tourism. By LI FUSHENG revamp its plants as well. The facili­ capacity of 150,000 vehicles, and in tem and promotes international Sune Detvongsa, vice­president of [email protected] ty in Tanjung Malim is now ready to accordance with the carmaker’s trade and investment. the Lao National Institute of Eco­ We set a goal to help produce the X70 SUV later this vision, around 65 percent of com­ According to Kunming Customs, nomics, said e­commerce and the China’s carmakers are speeding year, as local assembly trials had ponents will be purchased locally Yunnan’s trade with members of the digital economy will become impor­ up their expansion into overseas it to become the No 1 started on June 12. in Russia. Association of Southeast Asian tant driving forces for regional eco­ markets, especially in the Belt and brand in Malaysia Proton Chairman Syed Faisal The carmaker hopes the plant Nations increased 13.6 percent year­ nomic growth and industrial Road economies, which is expected Albar said that the two companies’ will better serve local demands but on­year to reach 44.2 billion yuan transformation. Governments need to boost their sales and more and a top three brand partnership has proved to be a also work as a base for its foray into ($6.4 billion) in the first five months to make greater coordination and importantly help improve the local in the ASEAN region. shining example of cooperation eastern European markets, includ­ of this year. Its trade with South efforts to maximize the opportuni­ automotive industry. between both countries. He also ing the adjacent countries of Bela­ Asian nations surged 75.4 percent to ties brought about by regional coop­ Zhejiang Geely Holding Group, The results so far are suggested that Chinese compa­ rus, Ukraine and Moldova. over 1.5 billion yuan in the same eration and connectivity. owner of Volvo Cars, purchased a showing that we are nies use Malaysia as a gateway to Great Wall Motors said it would period. 49.9 percent stake in Malaysian the ASEAN market, which has a like to make the most of the plant Zhang Guohua, vice­governor of XINHUA carmaker Proton in June 2017. on the right path.” population of 650 million. by producing models of other Chi­ Within two years, the brand has Daniel Donghui Li, chief finan­ China’s Industry and Informa­ nese brands aiming to expand their shown encouraging signs of fast cial officer of Zhejiang Geely tion Technology Minister Miao Wei footprint overseas. recovery. Holding Group said during the plant’s opening cer­ “Going global is an inevitable In May, Proton sold 10,711 vehi­ emony that Geely and Proton trend for Chinese brands,” said Wei cles, a 46­month high. From Janu­ Made at one of Geely’s plants in should seize the opportunities pro­ Jianjun, founder and chairman of ary to May, its sales totaled 36,157 Zhejiang province, the model was vided by the Belt and Road Initia­ the company. units, up 70 percent year­on­year. built based on its popular Boyue tive, and urged them to deepen “The Haval plant in Russia is one By the end of April, it had become sport utility vehicle but tweaked to cooperation to offer globally com­ of the most important parts of the second best­selling brand in meet Malaysian customer petitive products. Great Wall Motors’ overseas strate­ Malaysia. demands. Besides Malaysia, Geely has built gy, and it starts a new era for Chi­ Daniel Donghui Li, chief finan­ Geely said the model is just part plants in countries like Belarus, the nese carmakers to sell their cial officer of Geely, said one reason of the story. In fact, it has intro­ UK and Sweden and is selling its technology and standards to for­ why Proton singled out Geely from duced for Proton a comprehen­ models in more than 20 countries eign markets,” he said. others was that the Chinese car­ sive strategy covering aspects and regions. Great Wall Motors President maker had a unique vision for Pro­ from personnel, product quality Another leading Chinese car­ Wang Fengying said the global ton’s future development. and cost control to research and maker, Great Wall Motors, is reap­ market will become the main bat­ “We set a goal to help it to development and plant renova­ ing fruits of its going­global efforts tlefield for the company. become the No 1 brand in Malaysia tion. in Russia. “Thus, we have made a global and a top three brand in the Proton engineers are also join­ On June 5, a Haval F7 SUV rolled development strategy, sped up ASEAN region. The results so far ing Geely’s research teams in off its plant in Tula, a city 193 kilo­ planning internationally and are showing that we are on the Ningbo, Zhejiang province, and meters south of Moscow. Haval is expanded investment in the over­ right path,” said Li, who is also a the two sides are working to find one of Great Wall Motors’ three seas markets,” she said. Proton board member, in late April. solutions that will enable Proton automotive brands. Great Wall Motors is currently An exhibitor from Pakistan polishes a handmade bronze ornament Proton’s burnished perform­ to benefit most from Geely’s prov­ The $500 million plant is the selling its SUVs and pickup trucks at the recent South and Southeast Asia Commodity Expo and ance was mainly thanks to its en system. company’s largest ever investment to more than 50 countries and Investment Fair in Kunming, Yunnan province. XINHUA model X70 launched in December. Ahmad Muzaimi Zainol, a Pro­ overseas. It is also the first overseas regions, said Wang. Russian products prove a hit with visitors HARBIN — Vodka, ice cream, Harbin resident Wang Xin, who “Many customers bought the fits to more people in the two coun­ flour and soybean oil from Russia, bought four packets of the candies candies to treat guests during tra­ tries.” are all the rage among a large num­ at the expo. “I’ve often heard people ditional Chinese festivals, which Official data showed the bilateral ber of visitors to the just ended Chi­ say Russian products are cheap and are usually the busiest times for trade volume between China and na­Russia Expo held in Harbin, of good quality.” our company,” Lyu said, adding Russia last year exceeded $100 bil­ capital of Northeast China’s Hei­ For Lyu Wei, chairman of a trad­ his company would receive more lion, a record high.