BEIJING (Agencies): In a major development aimed at enhancing regional economic cooperation, China has decided to issue five-year multiple-entry visas to qualified business individuals from the five Mekong countries: Cambodia, Laos, Myanmar, Thailand, and Vietnam. This announcement was made by Chinese Premier Li Qiang during the eighth Greater Mekong Subregion (GMS) Summit, held from Wednesday to Thursday in Kunming, Yunnan Province.
The decision is part of China’s broader strategy to deepen both “hard connectivity” of infrastructure and “soft connectivity” in policies, laws, and standards with the Mekong countries. Premier Li highlighted China’s commitment to facilitating cross-border payments and local currency settlements, creating more cross-border cooperation demonstration zones, and accelerating regional economic integration.
In the first three quarters of this year, Yunnan’s trade with the five Mekong countries reached 78.92 billion yuan ($11 billion), accounting for 93.7 percent of its trade with ASEAN nations. By September, Yunnan had recorded $8.714 billion in non-financial outbound direct investment in the Mekong countries, with 680 non-financial ODI enterprises registered.
Premier Li also noted China’s readiness to cooperate in emerging areas such as new energy batteries, automobiles, photovoltaic industries, clean energy, smart manufacturing, big data, and smart cities. Since the establishment of the GMS mechanism, regional economic cooperation has seen significant progress, with increased trade, investment, and connectivity.
The GMS Summit, themed “Toward a Better Community Through Innovation-driven Development,” was attended by leaders of the five Mekong countries and the President of the Asian Development Bank. The summit underscored the strong resilience and vitality of the GMS mechanism, as well as its role in promoting sustainable development and economic integration in the region.