China supports Thailand in combating dubious businesses
Chinese Ambassador Han Zhiqiang reaffirmed Beijing’s commitment to supporting Thailand in cracking down on dubious Chinese businesses, while also aiming to enhance bilateral trade and relations. Han made these comments during a seminar held on Tuesday, July 23, to commemorate the 49th anniversary of diplomatic ties between China and Thailand.
A recent incident involving a Chinese-language billboard in Bangkok’s Huai Khwang area, advertising a 30-day service for obtaining foreign passports or citizenship, has added to the controversy. This billboard was noticed over the weekend, raising concerns among local officials.
Han disclosed that over 2,400 Chinese companies currently operate in Thailand, with around 1,400 having passed inspections by the Board of Investment (BoI). Most of these businesses are in the manufacturing and construction sectors, contributing to Thailand through recruitment, investment, and social and educational projects. Additionally, many Chinese also run smaller firms in the service sector, including more than 700 Sichuan hotpot businesses in Bangkok.
However, Han acknowledged that some investments might involve grey capital.
“As for Chinese investors who invest in Thailand individually, some of whom are also connected to shady businesses, we admit that we see quite a few problems.
“They damage the benefits and put pressure on the competition of Thai SMEs. Some may also violate Thai laws. On this issue, the Thai and Chinese authorities should closely cooperate to enforce the law.”
China is keen on supporting Thailand in trade and investment, especially in agricultural products and tourism, Han noted. The total trade value between the two nations stands at US$120 billion (around 4.34 trillion baht), with China having a trade surplus of US$35 billion. Over 85% of imported products from China are capital goods that Thailand can further develop and export, such as silicone sheets.
Han mentioned that Chinese companies have established solar cell sheet production companies in Thailand, importing silicone sheets from China. Last year, imports reached US$1.2 billion, while Thailand exported solar cell panels, particularly to Europe, worth US$3 billion.
“China welcomes Thai exports and is willing to help support Thailand in increasing exports to China, especially agricultural products, which account for 42% of the total.”
Additionally, Chinese tourists spent US$10 billion in Thailand last year, contributing significantly to the local economy, reported Bangkok Post.
