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China to boost cooperation with South Asia

Updated: May 5,2016 9:08 PM     Xinhua

BEIJING — China’s cooperation with South Asian countries will be very broad thanks to growing shared interests and market demand, said an official on May 5.

A round of key projects has been launched following the China-proposed Belt and Road Initiative to promote economic growth of the countries and boost regional cooperation, Vice Minister of the Ministry of Commerce Gao Yan said.

By the end of 2015, China’s direct investment in South Asian countries stood at $12.29 billion, and South Asia’s investment in China totaled $890 million, she said.

Last year, trade grew 4.9 percent from the previous year to $111.22 billion between China and eight members under the South Asia Association for Regional Cooperation initiative, including Nepal, India, Bangladesh, Bhutan, Pakistan, Sri Lanka, Maldives and Afghanistan, according to Gao.

She made the remarks at a press conference on the 4th China-South Asia Expo and the 24th China Kunming Import and Export Fair, which will be held in Kunming, Yunnan province from June 12 to 17.