Investment in ASEAN sought

Companies in Guangzhou, Guangdong province, are being encouraged to cooperate on infrastructure projects in member countries of the Association of Southeast Asian Nations.

It is part of an effort by local authorities to boost interest in the "21st Century Maritime Silk Road", the city's mayor said on Friday.

Chen Jianhua said Guangzhou will work to increase maritime routes and flights to ASEAN cities to develop closer bilateral ties.

"We are positioning Guangzhou as a main transportation hub" for the new Maritime Silk Road, he said.

Chen spoke to a group of reporters from countries situated along the ancient Maritime Silk Road. The journalists began a five-day visit to the province on Friday. In addition to Guangzhou, they will visit Dongguan and Huizhou.

Guangzhou, which goes back more than 2,200 years, is the birthplace of the ancient Maritime Silk Road due to its leading position in foreign trade, Chen said.

The Maritime Silk Road began when merchants sailed from China to Southeast Asia, Southern Asia and East Africa, all the way to the Persian Gulf and the Red Sea.

The 21st Century Maritime Silk Road is a cooperation initiative that President Xi Jinping proposed during his visit to Indonesia in October.

"Developing closer links with ASEAN countries will become a new driving force for Guangzhou's economic growth," Chen said.

"We will build Guangzhou as a free trade port and a center for China's foreign exchange center in three to five years," he vowed.

Only a few Guangzhou-based companies are currently investing overseas.

But as of April, Chen said, Guangzhou had invested $860 million in ASEAN countries, with 66 companies and organizations being established. And its investment to Africa reached $260 million by the end of that month.

"Companies are especially encouraged to invest in projects such as high-speed railways and canals. We will develop more sister links with cities from ASEAN members and Africa to facilitate economic and trade ties," said Chen.

ASEAN members are now Guangzhou's third-largest trading partner, with the value of bilateral trade reaching $14.18 billion in 2013.

Guangzhou also exported goods worth $6.86 billion to ASEAN countries in 2013, accounting for 10.9 percent of the city's total export value.

The Middle East and Africa are important emerging partners for Guangzhou, as the city's exports to the two markets increased 21.5 percent to the Middle East and 16.7 percent to Africa last year.

According to Chen, Guangzhou will speed up construction of overseas commodities promotion and sales centers along the Maritime Silk Road.

Wang Yiyang, head of Guangdong's research and development center, said the 21st Century Maritime Silk Road should provide many opportunities for economic cooperation.

"As an important manufacturing and trade city in South China, Guangdong will provide many consumer commodities to countries along the road. In return, countries in the ASEAN, Middle East and Africa will help provide energy and other resources to Guangzhou," Wang said.

qiuquanlin@chinadaily.com.cn

Journalists from countries that follow the ancient Marine Silk Road visit a museum in Guangzhou, Guangdong province, on Thursday, to learn about the city's historic role in sea trade. Zhu Xingxin / China Daily