China to pursue industrial chain interconnection with ASEAN, MIIT official

By： Update：2021-03-29

China will actively pursue industrial chain interconnection with members of the Association of Southeast Asian Nations (ASEAN), as the space for cooperation between the two sides in such industries as equipment manufacturing, textile, apparel, and light industry remains large, He Yaqiong, head of the operation monitoring and coordination bureau under the Ministry of Industry and Information Technology (MIIT) said at a press briefing held on Thursday.

Industrial chains in the region are becoming more closely linked, with the Regional Comprehensive Economic Partnership (RCEP) promoting the domestic and international development of ASEAN member states and enhancing China's capability to allocate resources in domestic and foreign markets, according to the official.

He added that while encouraging domestic industrial upgrading to high value-added links such as research and development, design and system integration, China will also strengthen cooperation with ASEAN in vertical sectors. For example, China can cooperate with ASEAN countries in middle and low-end industrial chains by setting up overseas industrial cooperation zones and cooperation parks for small and medium-sized enterprises, so as to increase industrial added value and enhance the ability for industrial chain integration.

China will take the initiative to open wider to the world and attract more foreign-funded high-end manufacturing projects, foreign enterprises and talents, according to He.