Li Keqiang, Chinese vice premier, speaks at the opening ceremony of the 6th China-ASEAN Expo. [Xinhuanet]

The 6th China-ASEAN Expo (CAEXPO) and the 6th China-ASEAN Business & Investment Summit (CABIS) opened on October 19 in Nanning, capital of Guangxi.

The two events are being held against the backdrop of the financial crisis and in the run up founding of the China-ASEAN Free Trade Area (CAFTA) which is due to be formally established next year.

Speaking at the opening ceremony, Dr. Surin Pitsuwan, secretary-general of ASEAN, said, "CAFTA is the world's 3rd biggest Free Trade Area covering a 1.8 billion population, 30 percent of the people in the whole world. It also contributes US$2 trillion in GDP and its total trade amounts to over 1.2 trillion."

CEOs of Fortune 500 Enterprises, leading industrial players and officials of international investment promotion agencies participated in the five-day events. The meetings attracted over 1,000 reporters from China and other countries.

The 6th CAEXPO attracted wide attention in China and beyond, as a grand gathering of leading enterprises and business elites. Figures from the official web of CAEXPO show that bilateral trade volume reached US$ 105.9 billion, a 38.9 percent annual growth rate. It also predicts that the imports and exports will increase by 50 percent more than last year.

Lao People's Democratic Republic Prime Minister Bouasone Bouphavanh said at the opening ceremony, "The 6th CAEXPO will play an important role, as always, in promoting economic, trading and investment cooperation."

Mr. Zhang Chaomei, vice director general of the Trade Development Bureau of the Ministry of Commerce, told China.org.cn, "These meetings are a platform for China-ASEAN friendly exchanges, business promotion and bilateral cooperation in various fields."

"The CAEXPO not only focuses on the cooperation between China and ASEAN, but is also open to the countries beyond this region, and has promoted exchanges between the China-ASEAN region as a whole with other economies, enhanced the influence of China and ASEAN, and created a huge market and enormous business opportunities that cover the 11 countries and beyond," he said.

Organizers said the CAEXPO Financial Services Exhibition, the China-ASEAN Summit Forum on Financial Cooperation & Development, and the CAEXPO Agricultural Exhibition will also help businesses better share opportunities and tide over the crisis.

Li Keqiang, Chinese vice premier; Prospero C. Nograles, speaker of the House of Representatives of the Philippines; Thiha Thura Tin Aung Myint Oo, secretary of the State Peace & Development Council of Myanmar; and Nguyen Sinh Hung, first vice prime minister of Vietnam also attended the opening ceremony.

According to the News Center of the 6th China-ASEAN Expo, there are four highlights of the expo.

First, high-profile participants, active participation of enterprises and a record number of booths – up from 3,400 to 4,000. The expo has 4 pavilions, the Pavilion of Commodity Trade, the Pavilion of Investment Cooperation, the Pavilion of Advanced Technology and the Pavilion of Cities of Charm.

Second, the expo features more market-driven and business-friendly programs. Over 30 foreign sourcing groups have registered, coming from the 10 ASEAN countries, the U.S., France, Spain, Japan, ROK, the United Arab Emirates, Australia and New Zealand. India and Kazakhstan have sent sourcing groups for the first time.

Third, a variety of concurrent forums are being held to promote bilateral cooperation. The expo will spotlight the cooperation between Customs authorities and the business community as its Theme of the Year.

Fourth, more services create a sound business environment.

In addition, Chinese domestic cities have chartered independent exhibition halls for the first time. Shenzhen, this year's Chinese City of Charm, has chartered a hall for its own Pavilion of Electronics & Electrical Appliances.

Hungary and Madagascar are participating in the event for the first time.