CRI听力:Chinese Investors Tap Deeper into Thailand

Rayong lies along the Gulf of Thailand, about 200 km east of Bangkok.

Chinese factories have become a common site in that city's industrial estate.

Zhao Gang, chairman of state-owned firm Gang Yan Diamond Tools, says there are many reasons Chinese investors choose to come here, "Thailand's culture is similar to China's. Thailand is a Buddhist country, and China also has a large number of Buddhists. I am a Buddhist myself. Compared to other regional countries, Thailand has good ports and transportation systems, including shipping links with China."

Zhao is following Beijing's "One Belt, One Road" policy to rebuild ancient Silk Road trade links with Asia and Europe, and set up in Thailand in 2014 after the country's latest military coup.

Since then, Thailand and China have drawn closer diplomatically as the Thai government seeks to counterbalance the country's cooling ties with Washington.

Some Chinese investors, including Zhao Gang, say they remain concerned about political instability, but the payoff is worth it so long as protection measures are in place, "When we first came, we were concerned about Thailand's political situation and social instability. We are still concerned now. But what is more important is that the business communities, many companies, and the Chinese embassy in Thailand have come up with an emergency plan."

Chinese investors have found a warm welcome in an economy that has seen investment crimped by a decade of political turmoil, and where the junta has striven to revive exports and domestic demand in the two years since seizing power.

Xu Genluo, head of the Thai-Chinese Rayong Industrial Zone, says the efforts have paid off, "Thailand has created a very good business and cultural environment. So Thailand is usually the first stop for Chinese tourists and investors."

Investment pledges from China jumped 400 percent in the first quarter from a year earlier to close to 6 billion baht, or about 160 million US dollars, making China the third largest foreign investor during the period.

That was still some way behind Japan, which pledged close to 16 billion baht.

Tokyo has long been Thailand's largest investor, with several large car plants accounting for much of the investment.

But Chinese investment is growing strongly, in part due to Beijing's policy of encouraging manufacturers to shift production abroad to deal with industrial overcapacity at home.

Last year, China was the fourth biggest foreign investor in Thailand, behind Japan, the United States and Singapore.

Xu Genluo says the number of Chinese firms at the industrial park is expected to increase to about 100 this year, from 75 currently, and to 500 in the next five years.