China now exporting infrastructure investment to ASEAN

Two-way investment, big-ticket infrastructure projects, the development of e-commerce and cross-border RMB transactions will play a bigger role in China-ASEAN economic ties, officials said on Tuesday.

Chen Zhou, director of the department of Asian affairs of the Ministry of Commerce, said commodity, agricultural and low-end products are no longer what dominate China's trade with members of the Association of Southeast Asian Nations.

As prices are high for many goods and infrastructure projects, and market competition is less intense in Southeast Asia, China's business model there has changed from exporting goods to establishing manufacturing facilities, as well as research and development centers and sales networks. It also hopes to sign contracts for highway, port, dam and energy projects in the region, Chen said.