Time to promote collaboration on production capacity
International cooperation on production capacity has become a key part in China's economic cooperation with many other countries; and this cooperation is gaining momentum recently.
During Premier Li Keqiang's visit to Latin America, China signed framework agreements on industrial investment and cooperation with Brazil, Colombia, Peru and Chile, identifying areas for cooperation and key projects in building infrastructure and connecting manufacturing chains. In Kazakhstan, China is carrying out a package of industrial cooperation projects amounting to over $20 billion, covering a dozen of priority sectors in Kazakhstan like iron and steel, cement, and plate glass. In countries like Indonesia, Ethiopia and Egypt, China's bilateral cooperation has shown promising prospects in areas of building materials, non-ferrous metals, ship-building and textile.
Why such a move?
