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People's Daily Online>>China Business

ASEAN now China's top investment destination

By Zhao Shan (People's Daily Overseas Edition)

15:48, November 22, 2011

Edited and Translated by People's Daily Online

As of August 2011, bilateral investments between China and the Association of Southeast Asian Nations (ASEAN) totaled nearly 90 billion U.S. dollars, of which China's cumulative investments in ASEAN amounted to 22.3 billion U.S. dollars.

Although China's ASEAN-bound investments came relatively late and were small compared to ASEAN's China-bound investments, Chinese investment in Southeast Asia has grown fast over the past few years and even faster than ASEAN's China-bound investment since the beginning of this year.

ASEAN has become China's top destination for overseas investment and a major market for China's overseas project contracting. For example, 10 countries receiving the largest dollar volume of signed contracts with China during the first 10 months of the year include four ASEAN members: Myanmar, Indonesia, Vietnam and Malaysia.


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