On October 22, 2008, the 5th China-ASEAN (Association of Southeast Asian Nations) Expo opened in Nanning, the capital city of Guangxi Zhuang Autonomous Region in south China. Chinese Vice Premier Wang Qishan attended the opening ceremony of the Expo and addressed the China-ASEAN Business and Investment Summit. He pointed out that there is a solid foundation and huge potential for closer China-ASEAN cooperation. Both sides should further deepen cooperation in all areas and jointly promote the steady and sound economic and financial growth of the region.

Wang said governments of China and ASEAN countries all give high priority to developing friendly relations and mutually-beneficial cooperation between the two sides and have made great efforts to advance the building of the China-ASEAN Free Trade Area, deepen sub-regional economic cooperation and promote trade and investment facilitation. China and ASEAN have become each other's fourth largest trading partner and China-ASEAN cooperation in various fields has shown good momentum of growth featuring equality, mutual trust, mutual benefit and win-win progress.

Wang pointed out that China and ASEAN countries are all at a stage of fast economic growth. China and ASEAN are connected by the same mountains and rivers. Both sides share similar cultures and have much to offer each other economically. He made the following proposals on strengthening China-ASEAN business cooperation: 1. Deepen cooperation in trade and investment. The two sides need to work to conclude negotiations on the Investment Agreement of China-ASEAN Free Trade Area at an early date and ensure that China-ASEAN Free Trade Area will be established as scheduled. 2. Step up sub-regional cooperation. China is working with countries concerned to jointly promote the transition of the Greater Mekong Subregion from a transport corridor to an economic corridor and support the accelerated opening-up and development of Beibu Bay Economic Zone. 3. Improve cooperation mechanisms. Both sides should give better play to the role of the existing communication and cooperation mechanisms and promote exchanges and dialogue at various levels and in various fields. 4. Jointly respond to challenges. China will step up coordination and cooperation with ASEAN countries in finance, energy, environmental protection, food security and other fields.

Wang emphasized that in spite of the rising uncertainties and destabilizing factors in the world economy, the fundamentals of the Chinese economy remain unchanged. The Chinese Government has taken and will continue to take measures to meet external challenges, and work to ensure economic stability, financial stability and the stability of the capital market. China will remain committed to the socialist path with distinctive Chinese features, fully apply the Scientific Outlook on Development, speed up the transformation of the mode of economic growth, readjust macro economic policies in a flexible and prudent manner, and work to boost domestic demand, consumption demand in particular, so as to bring about sustained, stable and fast economic growth. China will continue to push forward reform and opening-up, follow a win-win strategy of opening-up, promote trade and investment liberalization and facilitation, and oppose protectionism in all manifestations. China will adhere to the principle of building amicable relationship and partnership with its neighbors, enhance good-neighborly, friendly and practical cooperation with its neighboring countries, and contribute to the common development of the region through its own development.

Cambodian Prime Minister Hun Sen, Myanmar’s Prime Minister Thein Sein, Speaker of the Philippine House of Representatives Prospero Nograles, Vietnamese Deputy Prime Minister Hoang Trung Hai, Lao Vice President Bounnhang Vorachith and Secretary-General of the UN Conference on Trade and Development (UNCAD) Supachai Panitchpakdi attended the meeting and delivered speeches. 1200 people including government officials, representatives of trade associations, directors of businesses, experts and scholars from China and ASEAN countries attended the meeting.

On the same day, Wang Qishan also met respectively with Her Royal Highness Princess Masna of Brunei, and Speaker of the Philippine House of Representatives Prospero Nograles, who are here for the 5th China-ASEAN Expo and the China-ASEAN Business and Investment Summit.