Containers are seen at the Pasir Panjang container terminal in Singapore on Aug. 17, 2020.(Photo by Then Chih Wey/Xinhua)
Cooperation between China and the ASEAN has evolved from economic and trade exchanges to industrial chain integration, Cynthia Xin, general manager of Beijing branch, UOB China, says.
SINGAPORE, April 9 (Xinhua) -- The Chinese economy has promising prospects and China-ASEAN economic and trade links are inseparable, with the integration of the bilateral industrial chains to be deeper, a senior executive of United Overseas Bank (UOB) China told Xinhua in a recent interview.
China and the Association of Southeast Asian Nations (ASEAN) share a common development philosophy and industrial chains, said Cynthia Xin, general manager of Beijing branch, UOB China.
From her perspective, China has built industrial chains covering many fields, including high-end manufacturing, over the past decades. Notably, such industrial chains are under steady development, giving China an obvious advantage.
This aerial photo taken on April 26, 2023 shows a construction site of the East Coast Rail Link (ECRL), a major infrastructure project under the Belt and Road Initiative (BRI) in Kelantan, Malaysia. (Xinhua/Zhu Wei)
Cooperation between the two major economies has evolved from economic and trade exchanges to industrial chain integration, she said.
China, as the largest trade partner of ASEAN, can extend and drive the industrial chain development of the whole ASEAN through RCEP and other economic and trade agreements, she added.
The investment volume between China and ASEAN is increasing with a growing proportion of greenfield investment, which indicates that industrial chain integration between the two sides will further deepen, said Xin.
A train drives on the China-Laos Railway's Luang Prabang cross-Mekong River super major bridge in Laos, May 28, 2023. (Photo by Chen Chang/Xinhua)
"I can tell from work that Chinese business partners are practical and down-to-earth. They consider more about cost-saving and efficiency. Thus, I am confident of China's economic performance," she noted.
"Overseas capital and companies will maintain their interest in China as long as the country keeps opening up," Xin said.■
