South China's Guangxi Zhuang Autonomous Region plans to build an international logistics park at the border of China and Vietnam to boost trade with ASEAN countries, said a source from a logistics planning conference in Guangxi Friday.

With an investment of 120 million yuan (about 14.8 million US dollars), the park, located in the city of Pingxiang, will cover an area of 120 hectares, and is expected to be completed by the end of 2010.

Lei Duorong, mayor of Pinxiang City, said it will be a modern park integrating logistics, information and fund flows to promote the economic cooperation between China and the ASEAN countries.

"The city government will provide a lower-interest loan to the infrastructure builders together with some favorable estate policies to boost the construction of the logistics park," said the mayor.

The third largest port in Guangxi and the autonomous region's largest city bordering Vietnam, Pinxiang is known as the "South Gate of China."

According to the city's statistical bureau, Pingxiang had more than 4 billion yuan (about 493 million US dollars) in trade with Vietnam last year, making up 10 percent of the Sino-Vietnamese total.

Source: Xinhua