China-ASEAN enterprises awarded in Beijing

Trade between China and the Association of Southeast Asian Nations, or ASEAN, has become increasingly robust. The two sides established a framework agreement on comprehensive economic cooperation more than ten years ago, and set up a free trade area in 2010.

China now has become ASEAN's biggest trade partner. ASEAN countries have also become target markets attracting Chinese enterprises. On Thursday, an award ceremony was held in Beijing to recognize the great contributions made by excellent enterprises both from China and the ASEAN countries.

More than 250 officials from the embassies of ASEAN countries in China attended the ceremony. The Vice Chairman of the China Council for the Promotion of International Trade was among the officials who spoke at the event.

The ceremony awarded the top ten Chinese enterprises in the ASEAN markets and top ten ASEAN enterprises in Chinese markets. Another ten excellent entrepreneurs from China and the ASEAN countries were also awarded. The enterprises recognized included the China Union Pay Singapore Office and the Singapore Keppel Land China.

In recent years, emerging economies in the ASEAN markets have maintained dynamic growth amid the world economic downturn. The China-ASEAN Business Council said the GDP of the ASEAN countries grew by about 6% in 2012.

Xu Ningning, Deputy Secretary General of China-ASEAN Business Council in Beijing, said, "The economic vitality of the ASEAN markets is in large part thanks to the regional economic integration. The ASEAN countries have established free trade areas with six countries. And they've also been pushing forward economic integration within their own region. All these have contributed to the sustainable economic vigor of the ASEAN markets."

China's enterprises have invested most in the ASEAN markets. China's Ministry of Commerce said the two-way investment between China and the ASEAN countries had reached a record high of 400 billion US dollars in 2012, with a growth rate of 10.2%. As more Chinese enterprises invest in ASEAN countries, Xu Ningning urged them to be cautious of the local environmental impact.

Xu said, "For China's enterprises that invest in the ASEAN countries, especially those who do resource exploitation projects, they should pay more attention to environmental protection, and make more efforts to fulfill social responsibility."

ASEAN counties have been pushing industrial restructuring. And because of this Xu Ningning said China's enterprises should focus more on industry cooperation in the ASEAN markets.

Six ASEAN countries now have the Zero-tax policy with China. The remaining four will adopt one by 2012. Experts suggest they should start to prepare for the policy early to benefit more enterprises in the future.