The signing ceremony of the 12th China-ASEAN Expo International Economic Cooperation Projects was held in Nanning on Sept 19.

A total of 62 international economic cooperation projects covering logistics, new equipment manufacturing, finance and trade, hi-tech and information software services were signed at this ceremony.

Officers of commerce and diplomats of China and seven ASEAN countries, namely Cambodia, Indonesia, Laos, Myanmar, Singapore, Thailand and Vietnam, and leaders of Jiangxi, Jilin, Hunan and Guangxi attended the ceremony to witness the moment.

The signing ceremony was highlighted in four aspects.

First, the effect of the Belt and Road Initiative is obvious. The number of projects involving "the 21st Century Maritime Silk Road" industry has exceeded 20, an increase about 50 percent compared with last session, which indicates that regions all over China have directly transferred the support policies in Free Trade Area into real business opportunities.

Second, the economic and trade cooperation between China and ASEAN countries has become mature with coordinated development. China and ASEAN countries signed 15 cooperation projects at this ceremony, seven of which are projects of China to invest in ASEAN countries.

Third, the structural optimization of the signed projects is obvious and will help drive the transformation and upgrading. At this ceremony, the proportion of projects involving the primary and tertiary industries increased. High-end manufacturing industries have made rapid growth, while traditional, low-end industries have sharp decline.

Fourth, the China-ASEAN Expo has become a big world's economic and trade cooperation platform where the major projects drive the strong development of various industries. The investment source countries also have new changes. Mutual investment with the United States, Canada, Portugal, Australia, Mauritania and Japan has emerged.