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Chinese, ASEAN firms eye each other's markets for growth

Chinese and ASEAN companies show a growing interest in exploring mutual business opportunities, driven by the Regional Comprehensive Economic Partnership pact, according to a report by United Overseas Bank (UOB China). A survey of 588 Chinese firms with sales of CNY100m (USD14.2m) to CNY4bn revealed that Southeast Asia and Hong Kong tied as the top overseas investment locations. Over the next three years, more than 40% plan to expand in Southeast Asia, particularly Singapore, Thailand, and Malaysia. Main sectors of interest include hotels and property, construction, infrastructure, and retail. Meanwhile, approximately 40% of ASEAN companies wish to expand in mainland China, with Thai and Singaporean firms showing the most interest.


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