China and the ASEAN are highly complementary in emerging industries and there is strong willingness for exchanges and cooperation among businesses on both sides, he said at the China-ASEAN Forum on Emerging Industries in Shenzhen, Guangdong province, on Tuesday.

Noting that the ASEAN has enormous potential for industrial transformation and innovative development, Jin said China will work with the region to stimulate innovation vitality and promote high-quality development of key areas by focusing on sectors like new energy vehicles, digital economy and energy electronics.

The two sides will look for a batch of major projects that are highly technological, with large investment volume and can drive industrial development to create a new driving force for industrial collaboration and build a new highland for innovative development, he said.

China will strengthen cooperation with the ASEAN to facilitate the efficient flow of people, goods, capital and information between industrial parks, industries and regions to deepen integration in industrial chain, supply chain and value chain, he said.

The country will adhere to openness and inclusiveness, and strive to create an integrated development model of emerging industries with China-ASEAN characteristics, he said.

The minister also highlighted the importance of high-level communication in the industrial sector between China and the ASEAN, proposing to accelerate the establishment of a minister-level dialogue and exchange mechanism to create a sound environment for the development of emerging industries.

Agus Gumiwang Kartasasmita, Indonesia's minister of industry, said as the ASEAN makes efforts to play a leading role in the field of electric vehicles globally, there is large potential for cooperation between the region and China.

Malaithong Kommasith, industry and commerce minister of Laos, said emerging industries face many barriers like a lack of consumer awareness, insufficient financing, high costs of research and development, and unfriendly environment.

"Therefore, promoting regional cooperation on emerging industries could be a strategic choice for the ASEAN and China to recover from the COVID-19 pandemic, foster economic growth and attain development in the region," he said.

Source: Chinadaily.com.cn