China-ASEAN Mercantile Exchange was unveiled in Nanning, capital of Guangxi Zhuang Autonomous Region, on Wednesday.

Located in the China-Singapore Nanning International Park, China-ASEAN Mercantile Exchange covers one million square meters with a planned investment of 3.1 billion yuan (about $445 million).

The mercantile exchange aims to build a one-stop platform for online and offline economic and trade exchanges for other RCEP countries and even the large Belt-and-Road markets, striving to become the first station for foreign enterprises, mainly from ASEAN, to enter the Chinese market.

Exhibition halls of RCEP members and countries along the Belt and Road Initiative, provincial exhibition halls of China, a world Muslim business center, digital trading comprehensive exhibition hall of multimodal transport, platforms for investment promotion and innovative financial service, a cross-border e-commerce service center, as well as supporting facilities like a large logistics warehouse have been planned, enabling consumers can access overseas products without going abroad.

The establishment of the mercantile exchange will bring new opportunities to enterprises in China, ASEAN and RCEP countries, further expanding economic and trade cooperation among the three parties.

The China-ASEAN international consumption season was also launched on the same day and will last until the end of October 2022.