Chinese group to visit the Philippines in search of investment opportunities

A 50-man delegation of top business executives from China will be visiting the country to look for investment opportunities, the Philippine Chamber of Commerce and Industry (PCCI) said in a statement Monday. The delegation, which will be arriving in the country on April 16, will be led by China Council for the Promotion of International (CCPIT) Trade Vice-Chairman Yu Ping. CCPIT is an organization of foreign economic relations and trade representatives from China that advises entrepreneurs in other countries to transact business. Sectors that will be represented in the delegation include energy, import and export, services, mining, transportation, real estate, construction, agriculture, and leather goods manufacturing. The delegation will meet with members of the PCCI, the Trade department and other businessmen for an investment forum to be held on April 16. “China’s fast-growing economy, large population and emerging status as economic superpower requires its strategic business sectors to secure stable business relationships that will supply raw materials, products and services in shortage in or not available within China,” said PCCI President Miguel B. Varela in the statement. “It has been two years since the last forum and networking sessions in Guangzhou. That the CCPIT is resuming talks and staging the event here signifies the commitment of China to grow business relationships with the Philippines,” Varela added. China was the Philippines' third largest trading partner in 2012. Exports from the Philippines to China reached $6.159 billion in 2012, a drop of 1.24% from $6.237 billion in 2011. — DVM, GMA News