China launched its first Indonesia-China Economic and Trade Cooperation Zone (ICCZ) Wednesday in Jakarta, capital of Indonesia.
Guo Shengkun, Secretary of Party Committee of Guangxi Zhuang autonomous region and Zhang Qiyue, Chinese Ambassador to Indonesia, attended the signing ceremony in Jakarta.
The zone, covering an area of 5 sq km, is located dozens of miles away from both the Jakarta International Airport and the main seaport in Indonesia.
The project, headed by the Guangxi State Farms Group, called for an investment of 650 million yuan in its first phase.
The zone's establishment is part of Guangxi's "Going-out" strategy. The project is significant for Guangxi in promoting Pan-Beibu Gulf economic cooperation and the establishment of China-ASEAN Free-trade area.