China wants to lead innovations in the Southeast Asian region. (Photo : Getty Images)
According to Vice Premier Zhang Gaoli China will help Southeast Asian nations to implement an upgrade through direct investment, projects, technological cooperation, and imports and exports of equipment. Zhang made this announcement during the 13th China-ASEAN Expo in Nanning.
ASEAN is China's third largest trading partner. Bilateral trade between China and ASEAN has jumped in the past 25 years.
The amount of trade has grown to 18.5 percent year-on-year from $7.96 billion to $472.16 billion last year.
"China, with its advantages of capital, technology, engineering and management for infrastructure construction, will help ASEAN countries to elevate their industrialization based on demand in different countries," Zhang said.
Jack Ma, the chief executive of internet giant Alibaba, said that the company intends to expand its operations in the region.
He said, "The development of online business not only promotes more consumption but has helped to create nearly 30 million jobs in China."
Ma added, "I believe that Southeast Asian countries will gain great development opportunities from e-commerce."
Other opportunities such as the Silk Road Economic Belt and the 21st Century Maritime Silk Road, also provides opportunities for energy cooperation.
Chen Jian, a general manager of Fangchenggang Nuclear Power Co Ltd, CGN's subsidiary, said the company has already established its regional headquarters in Malaysia.
"Currently we have many projects in Thailand, Malaysia, Singapore and other countries in the field of clean energy," he said.
The manager explained, "It's of mutual benefit, as it not only helps meet the energy demand but it drives up the whole value chain for ASEAN countries in terms of technology and equipment manufacturing through our cooperation."
ASEAN did not single out China in the issue of the South China Sea dispute. The communication from the meeting only said that the ASEAN is "seriously concerned over recent and ongoing developments and took note of the concerns expressed by some ministers on the land reclamations and escalation of activities in the area."
