China, Malaysia to jointly build industrial park

China and Malaysia will jointly build an industrial park in south China's Guangxi Zhuang Autonomous Region, local Chinese authorities said Friday.

The industrial park will be built in Jingujiang of Qinzhou city. It will cover 15 square km in its early stage and will be expanded to 55 square km, said Zhang Xiaoqin, secretary of the Qinzhou Municipal Committee of the Communist Party of China.

The China-Malaysia Qinzhou Industrial Park will focus on developing manufacturing, IT technology and and modern service industries. It will offer services not only for businesses of the two countries but also for ASEAN and global businesses, Zhang said.

The project has been approved by the State Council, China's Cabinet, and preferential policies will be offered for businesses in the park, Zhang said.

It is the third industrial park jointly developed by China and foreign countries. The other two are between China and Singapore: an industrial park in eastern city of Suzhou and an eco-city in northern port city of Tianjin.

"The Qinzhou industrial park will become a new platform of cooperation for China and ASEAN, with the joint endeavors of the two countries," Zhang said.