Sino-Malaysian business zone first between two govts

A pioneering zone in the Guangxi Zhuang autonomous region, the China-Malaysia (Qinzhou) Industrial Park will further deepen economic ties between China and ASEAN, local officials said.

The first of its kind built by the Chinese and Malaysian governments, the park in Guangxi's Qinzhou port serves as a platform for promoting exchanges and cooperation with enterprises from ASEAN and other countries around the world.

It is the third inter-governmental deal between China and other countries, following the China-Singapore Suzhou Industrial Park and the Sino-Singapore Tianjin Eco-city.

"We are committed to making the park an advanced manufacturing base with modern infrastructure, corridor of intelligence and good investment environment in the Beibu Gulf Economic Zone," said its administrator.

Adjacent to the Guangxi Qinzhou Free Trade Port Area and Qinzhou Port Economic and Technological Development Zone, the park has a planned area of more than 55 square kilometers and a population of 500,000.

It includes areas for industries, scientific research, services and residences.

Based on its geographic advantages and rich resources from ASEAN, the park will focus on developing traditional industries and strategic sectors.

"It is also a high-level R&D center with world-class competitiveness," said officials.

At present, projects worth some 4.8 billion yuan ($786 million) have settled in the park. Their production value is projected to reach 20 billion yuan annually.

The administration committee said the park will endeavor to improve its services and management standards in the near future.

Pillar industries

The six key industries in the park include equipment manufacturing, electronic information, food processing, traditional and new materials, biotechnology and modern services.

Those industries will forge an advanced system of industrial clusters with distinct features in the next few years, analysts say.

A comprehensive processing zone will be set up soon, specially for Malaysian small and medium-sized companies.

One example is its newly built joint venture company founded by enterprises from both China and Malaysia.

It is responsible for the park's overall development and construction as well as investment promotion.