Recently, I participated in Nanning Guangxi China - ASEAN Free Trade Area of the inaugural meeting. In this grand occasion of the meeting, representatives of ASEAN countries to expand regional industries to create major problems of regional prosperity reached a new consensus. The world's largest free trade zone enterprises in the region will bring tremendous new business opportunities.
I have been very concerned about the Asian economic cooperation, but also early on took part in the promotion of one of the academics of Asian cooperation. Twenty years ago, I still remember the Asian Development Bank headquarters in Manila, we began to design the future of Asian cooperation. Asia is also like a mess at the time to talk about regional cooperation, such as fantasy. Europe was the European Union, North American free trade zone in North America, Latin America, there are several common market, and even Africa has several free trade areas and the Community. The only Asian there is no formal mechanism for economic cooperation arrangements. The reason is very simple: First, for several decades, Asia has been in various wars among the great differences of ideology makes the lack of basic political foundation for cooperation; 2 was the main markets in Asia, North America and Europe, intra-regional trade is very less co-operation is largely meaningless.
Faced with these problems, by the Chinese special economic zones inspired model, we decided to start with a smaller range of sub-regional cooperation in the beginning. So on the first launch of the Greater Mekong sub-regional economic cooperation, and later gradually promoted in Malaysia - Indonesia - Thailand Growth Triangle, the Central Asian sub-regional economic cooperation, and a number of other sub-regional cooperation. After 10 years of co-pilot, especially in the Asian financial [2.95 1.03%] under the impact of the crisis, Asian countries will continue to rise, culminating in today's rolling flood.
China-ASEAN Free Trade Area of the intra-regional trade provides a wealth of new opportunities, it goes without saying that it is equally important is also expanded the investment opportunities. For China this has a lot of excess foreign exchange reserves, is preparing to go out of the country a large-scale, this opportunity, it is extraordinarily important. China needs to move out of the enterprises are SMEs, should explore new models. To the cluster approach, the above in the form of the downstream go out together, the risk would be smaller. With the China-ASEAN co-operation by the State to come forward in the ASEAN countries a number of Chinese Investment Zone, you can in the overall environment is not satisfactory in countries create an investment in a small environment. These need to first be at the government level to coordinate and then by the enterprises to implement them.
Since the free trade zone by the wind, the RMB regionalization can also be faster manner. The ASEAN region is the first district regionalization yuan. In trade facilitation and economic integration process, the push for RMB regionalization is the logical thing. Since July 2009 since the Bank of China [4.32 1.17%] (601988, stock bar) has a number of countries in the ASEAN settled in RMB. Central Bank of the Philippines took the lead in a few years ago, one of the RMB as a reserve currency.
Since the establishment of a free trade zone to the capital markets has also created many new business opportunities. Guangxi, Yunnan, and Guangdong-ASEAN trade and investment activities between the provinces of listed companies can gain an advantage in the market to expand, industrial upgrading, foreign investment, a diversified financing, to seize the opportunities. In infrastructure construction, agricultural products [14.91 10.04%] trade, electronic components and other areas listed companies, many will benefit from the establishment of a free trade zone on the profit. But so far, on the capital market to take advantage of opportunities to study free trade zone is not enough, it is worth exploring in depth.
Of course, in the promotion of free trade area, also, there are still many challenges. The most serious problem is that many ASEAN enterprises to compete very worried about the zero tariff, but Chinese companies. Since the world economic crisis, had long maintained a number of countries on the contrary, China's trade surplus into a deficit. Association of Southeast Asian Nations also called for some media to postpone their government and China's tariff reductions. These new trends are worth noting. It should be noted that in the construction of a free trade area is also has a fierce competition. Next year, ASEAN and South Korea free trade zone started. 2012 Japan-ASEAN free trade zone will also be set up. If we do not seize the opportunity to quickly expand the market, take a favorable business opportunities, these opportunities fleeting.
China - ASEAN Free Trade Area will promote regionalization of RMB
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