Home breadcru News breadcru Industrial breadcru China approves trade demonstration parks with Indonesia, Philippines

China approves trade demonstration parks with Indonesia, Philippines

22 Jan '23
1 min read
Pic: Shutterstock
Pic: Shutterstock

China’s State Council has approved setting up of a China-Indonesia Joint Demonstration Zone for economic innovative development in Fuzhou in the eastern Fujian province, according to a recent official circular, which also approved establishment of a similar zone with Philippines in Zhangzhou in the same province, the government announced.

The circular urged the local governments to strengthen leadership and management of the zones with guidance from the country’s chief administrative authority.

The circular urged the zones to strengthen strategic cooperation, align with high-standard international economic and trade rules and enhance institutional and mechanisms innovation to deepen economic and bilateral trade collaboration, advancing efficient and coordinated industrial development, an official release said.

The zone should explore the international division of labour and cooperation mode integrating the industrial chain, supply chain and value chain, building a new arena for ASEAN countries’ economic cooperation and communication, the circular added.

ALCHEMPro News Desk (DS)

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