Photo Credit: AFP
Economy, Investment and Trade
Southeast Asian property market attracts Chinese investors
(25 June 2018) The southeast Asian real estate market has successfully attracted at least US$2.5 billion during year end of 2017, four times higher than the figures in 2016. This is due to the rise in demand from Chinese investors. A report from Colliers International Group Inc, a real estate services company, showed that demand for purchasing real estate in Thailand by Chinese buyers hit the second peak in 2018 since its upward trend in 2015. The amount rose by 91 percent and 313 percent in 2018 compared to the same period in 2017 and 2016 respectively. Among the Southeast Asian countries, Singapore is popular among investors with investments worth US$2.1 billion, followed by Malaysia and Indonesia.
ASEAN and China aim to boost tourists arrivals
(20 June 2018) ASEAN and China aim to boost the country’s international tourism by increasing tourist arrivals in both markets. The China-ASEAN Centre reported that the number of Chinese tourists coming to ASEAN in 2016 hit 19.8 million, a year-on-year increase of 6.4 percent whereas the number of ASEAN’s tourists to China reached 10.34 million, an increase of 57.8 percent compared to 2015. The total amount of visitors between ASEAN and China has exceeded the 2020 target of 30 million with China being one of the largest tourism markets for ASEAN.
China-US trade may affect nearly 1,100 Thai industrial products
(25 June 2018) Federation of Thai Industries (FDI) is concerned that the trade war between China and United States will affect nearly 1,100 items of industrial products in the country. Since exports account for 70 percent of the country’s total revenue, FDI is making an assessment regarding possible effects on Thai industries from China-US trade war. Products from 45 industrial groups with 11,000 industrial operators that are related to exports to the United States and China might be affected while the US might also shift imports from China to Thailand.
Trade volume between Cambodia and China improves by 22 percent
(21 June 2018) Cambodia’s commerce ministry announced that its trading volume with China has increased by 22 percent from US$4.76 billion in 2016 to US$5.8 billion in 2017. In the past 10 years, the trade volume between Cambodia and China has improved with an average of 26 percent annually. Main exports item to China were milled rice, cassava, and apparels whereas most imports from China were garment raw materials, machinery, vehicles, foodstuffs, electronics, medicines, and cosmetics. China is also the biggest investor in Cambodia, with fixed asset investments worth US$12.6 billion from 1994 to 2017.
ASEAN and China will meet to discuss South China Sea dispute
(23 June 2018) Member states of the ASEAN meet in China on 27 June 2018 to discuss the South China Sea dispute. The 15th senior officials’ meeting for the execution of the Declaration on the Conduct (DOC) of Parties in the South China Sea will also be held on the same day. Although China and ASEAN have signed a Declaration on the Code of Conduct (COC) of Parties regarding the South China Sea in 2002, there is no consent in implementation. Countries such as China, Taiwan, and ASEAN member states Philippines, Vietnam, Malaysia, and Brunei are competing for claims in the South China Sea.