Contributor: Eric Arevalo

Beijing, China - On August 31, 2011, Vice Premier of the State Council Wang Qishan and Philippine President Benigno S. Aquino III jointly attended the Philippines-China Economic and Trade Forum in Beijing.
On behalf of the Chinese government, Wang extended warm welcome to all 700 Filipino and Chinese businessmen present at the Forum including Powercity Managers Mr. Wilson Lua and Mr. James Lai. He said that the personal participation of Aquino in the Forum fully reflects

his commitment to China-Philippines pragmatic cooperation. With economic ties dating back to the 7th century, the Philippines and China enjoy an extensive and dynamic relationship that undoubtedly has helped contribute to each other’s economy over the years. Aquino acknowledged in his speech about partnership between the Department of Public Works and Highways and the Hebei Road and Bridge Group Company, Limited and the China Henan Shuili Yiju Company in upgrading and maintaining roads in Mindanao which is currently undertaken and expected to be completed in 2013.

Further addressing the Forum, Aquino noted that the Philippines looks forward to further developing the partnership and economic and trade cooperation with China. He said that the ASEAN Economic Community will be formed in 2015 and to strengthen cooperation with the Philippines means the northern gateway to the region will be further opened to China. The Philippines is definitely open for business. The Philippine government will take steps to encourage the entry of investments in the country, make the registration a lot more convenient for foreign businesses, harmonize local statutes, create a stable, transparent and fair business environment and build investor confidence. It will always take a long-term view in order to achieve lasting progress of the country and the Chinese entrepreneurs always know the value of taking the long-term view. He hopes Chinese businesses seize the opportunities to expand investment in the Philippines, especially the strategic investment in tourism, agriculture and infrastructure.

Aquino’s state visit to China also gave him an opportunity to reconnect with his roots in southern Fujian province where the two factories of Powercity are also situated.

Tracing the very steps his mother took more than two decades ago, Aquino visited the hometown of his Chinese ancestors in Hongjian Village, located in the township of Jiaomei, Longhai City, Zhangzhou Municipality, Fujian Province.

It is widely known that the late President Corazon Cojuangco-Aquino is a fourth-generation Filipino-Chinese descended from Mr. Co Yu Hwan, a Chinese immigrant from Hongjian Village who settled in the Philippines in 1861.