- Title: China, Philippines consider establishing economic cooperation zone
- Date: 17th November 2016
- Summary: BEIJING, CHINA (NOVEMBER 17, 2016) (REUTERS) NEWS CONFERENCE IN PROGRESS MEDIA SEATED (SOUNDBITE) (Mandarin) CHINA'S COMMERCE MINISTRY SPOKESMAN SUN JIWEN SAYING: "China is willing to expand imports from the Philippines, especially imports of agricultural products, push for Chinese firms to expand investment in the Philippines, and discuss the possibility of establishing an economic cooperation zone in the Philippines." MEDIA SEATED (SOUNDBITE) (Mandarin) CHINA'S COMMERCE MINISTRY SPOKESMAN SUN JIWEN SAYING: "There are 22,580 newly established foreign-invested enterprises, up by 7.4 percent year-on-year. The amount of actual use of foreign investment is 666.3 billion yuan ($96.99 billion), up 4.2 percent year-on-year." MEDIA NEWS CONFERENCE IN PROGRESS
- Embargoed: 2nd December 2016 06:35
- Keywords: china philippines economic cooperation zone foreign direct investment
- Location: BEIJING, CHINA
- City: BEIJING, CHINA
- Country: China
- Topics: Diplomacy/Foreign Policy,Government/Politics
- Reuters ID: LVA00158U0K99
- Aspect Ratio: 16:9
- Story Text: China and the Philippines were discussing the possibility of establishing an economic cooperation zone in the Philippines, China's Ministry of Commerce said on Thursday (November 17).
Ministry spokesman Sun Jiwen said China had started negotiations with the Philippines in the fields of economic and trade cooperation.
"China is willing to expand imports from the Philippines, especially imports of agricultural products, push for Chinese firms to expand investment in the Philippines, and discuss the possibility of establishing an economic cooperation zone in the Philippines," Sun told reporters at a regular news conference in Beijing.
The news came after Chinese President Xi Jinping met Philippine President Rodrigo Duterte last month in Beijing, where he was visiting with at least 200 business people to pave the way for what he called a new commercial alliance as relations with longtime ally Washington deteriorate.
Sun also said foreign direct investment (FDI) into China rose 4.2 percent to 666.3 billion yuan ($96.99 billion) in the first 10 months of this year from the same period a year earlier.
Non-financial outbound direct investment (ODI) rose 53.3 percent in the January-October period to 961.9 billion yuan from a year ago, he added.
October outbound investment rose 48.4 percent from last year. - Copyright Holder: REUTERS
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