The Nanning-Singapore Economic Corridor is aimed at promoting economic co-operation along roads linking ASEAN members, according to Liu.

In addition, the corridor is also conducive to Guangxi strengthening its economic and trade ties with the Pan-Pearl River Delta region, according to Liu.

Liu proposed roads and railways running through Nanning, Hanoi, Phnom Penh, Bangkok, Kuala Lumpur and Singapore be constructed soon, to help promote economic development along the corridor.

"It also aims at better promoting road economic development by developing industrial clusters, logistics and specified markets along the corridor," Liu said.

According to Liu's proposal, efforts should also be stepped up to deepen economic and trade ties in the Great Mekong River sub-Region.

"The M-shaped framework is expected to strengthen economic and trade ties between China and countries in the Great Mekong River Sub-region, and it helps more Chinese enterprises in the east, which is seen as a more developed economy than the west, better integrate into and expand their businesses in the region," Liu said.

Liu suggested more enterprises from Chinese inland provinces and regions invest in the Great Mekong River Sub-region.

According to Liu, the M-shaped initiative is of importance to the overall development of China's coastal areas.

"If the great potential is realized, the gulf area can become China's fourth economic powerhouse along its coastal regions," Liu said.

Contributing more than 60 per cent of the country's economy, the Pearl River Delta in South China, the Yangtze River Delta in East China and North China's Bohai Sea Rim area have already become China's three economic engines fuelling growth.

"It's a landmark event aimed at promoting the construction of the China-ASEAN Free Trade Area," Liu said.

With the establishment of the strategic partnership, the two sides have made substantial progress in a variety of fields, including trade.

In 2005, trade volume between China and ASEAN member countries reached US$130.3 billion, increasing 23 per cent year-on-year. The figure is expected to reach US$200 billion in 2010.

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