China South City Nanning presentation held in Singapore

A presentation of China South City Nanning, the Guangxi Zhuang Autonomous Region, was held here on Thursday to attract businesses and products of ASEAN members.

Cheng Chung Hing, vice chairman of the China Chamber of International Commerce, said at the presentation that China South City (CSC) Nanning is a noteworthy logistics and infrastructure project strongly supported by the Guangxi Zhuang Autonomous Region government and Nanning Municipal Government. The total gross floor area of CSC Nanning reached 4.88 million square meters with a total investment of over 1.86 billion U.S. dollars.

Cheng said the objective of CSC Nanning is to establish an integrated world-class trade and logistics city serving the suppliers and purchasers from ASEAN countries effectively, adding that CSC Nanning aims to become the trade and exchange center of China and the ASEAN by means of effective business relationship and resources complementarity.

The China-ASEAN Trade Plaza is under construction in the CSC Nanning, with a total gross floor area of approximately 480,000 square meters. Among the area, 50,000 square meters of exhibition area will be provided to 10 ASEAN countries for a 5-year rent-free period, according to Cheng.

"We expect to build up a display and trade platform for ASEAN specialties in order to draw these products to go to Guangxi and promote them to the China market," he said.

Cheng said that with the establishment of China-ASEAN Free Trade Area, 90 percent of the products in China and the ASEAN enjoyed zero tariffs, trade barriers and operating costs have been sharply reduced, noting that it helps better China and ASEAN trade development with no doubt.

"Guangxi and the ASEAN are broadening their collaboration in various aspects and at multi-levels," he said.

Chua Seng Chong, chairman of the Trade Association and Membership Affairs Committee of Singapore Chinese Chamber of Commerce and Industry, said Singapore and China have long kept close business and trade relations, and the two countries have established deep friendship. So far, investment of Singapore enterprises in China reached 48 billion U.S. dollars.

The cooperation between Singapore and Guangxi is not only of great significance, but also enjoy broad prospects, he said.

Source:Xinhua

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