The proposed Golden Triangle economic zone, according to Chua, is the triumvirate of the southern Chinese province of Fujian (which includes Xiamen City), Taiwan and the Philippines.

Chua said Fujian has attracted much investments from Taiwan, especially in Xiamen which is the counterpart of Taiwan's Kaohsiung, and the Philippines' Subic and Clark special economic zones.

He added that the Philippines can play an integral role in the triangle because of its vast resources "such as gold, copper, manganese and chromite and other indigenous energy resources like geothermal and hydro-electricity power."

He noted that the Philippines also has vast supply of the "most precious resource in the whole world," referring to the country’s world-class and highly skilled (Filipino) professionals.

"The Philippines, located south of Taiwan, together with Fujian, results in three strategic areas which form a triangle from a geographic point of view," Chua said.

"In this Golden Triangle, the Philippines offers cooperation in electronics, communications and information technology, agriculture, husbandry, mining and tourism," he added.

Chua described the proposed Golden Triangle growth area as a "triangle of kinship, friendship and partnership."

President Gloria Macapagal-Arroyo, in her speech at the business conference hosted for her by the FFCCCII at the Xianglu Hotel here yesterday, said she believes the establishment of the so-called "golden triangle" economic zone linking the Philippines, Taiwan and China’s Fujian province will stimulate partnerships among the firms and harness the competitive advantages of the three economies.

XIAMEN, China (via PLDT/SMART) – President Gloria Macapagal-Arroyo took time out from her very hectic schedule here yesterday afternoon to meet with the Filipino community in Fujian province whom she hailed for their invaluable contribution to the progress of the Philippines.

In what was considered as an "at ease" event at Xiamen’s Xianglu Hotel, everyone, including the President, was requested to take it easy for the hour-long meeting which was marked with exchanges of pleasantries and photo opportunities.

In her speech before the close to 200 Filipinos present at the meeting, the President said she is proud of the Filipinos working here because most of them are employed as professional workers.

Many of those who attended the meeting took time off from their work and traveled up to three hours by land to catch a glimpse of the President.

"In Xiamen and its surrounding areas, I am happy to note that majority of Filipinos here are actually engaged in professional or technical work," President Arroyo said.

"I am proud of the status and reputation of Filipinos in this part of China," she added.

The President also noted that the family roots of the country’s national hero Dr. Jose Rizal came from China, particularly Xiamen

"The Chinese roots of our national hero underscore the racial and blood ties that Filipinos have with the Chinese especially from this area of southern China," she said.

She noted that although the official ties between the two countries began only 31 years ago, their friendship and trade relations have been going on for over a thousand years.

She said the past five years of bilateral ties from 2001 to 2005 have been the "golden age of partnership" where relations between the two countries are at an "all-time high and are based on mutual respect."

It also stands as a remembrance to his great, great grandfather, Domingo Lamco of Zhang-Guo province, who was once a resident and citizen of this great land.

On the second day of her official visit to China, President Gloria Macapagal-Arroyo led wreath-laying rites this morning at the Rizal Shrine here to pay respect to Rizal, his grandfather Lamco and the Chinese people.

The President was accompanied by some members of her Cabinet, including Agriculture Secretary Arthur Yap, Press Secretary Ignacio Bunye, and Environment and Natural Resources Secretary Angelo Reyes, along with some members of Congress and local officials.

Construction of the monument began in 2002. On Jan. 23, 2003, House Speaker Jose de Venecia Jr. led a 60-member Philippine delegation in wreath-laying ceremonies that highlighted the inauguration of the Rizal Shrine in Siongque Village, Jinjiang City, Fujian Province, southern China.

The Philippine delegation included Consul General Corazon Bahjin, Congressman Roque Ablan, National Historical Institute Chair Ambeth Ocampo, officers of the Knights of Rizal, Tarlac-based descendants of Rizal’s sister Soledad, and Chinese-Filipino businessmen.

Chinese officials who graced the occasion included Jinjiang City Mayor and Party Secretary Gong Qingkai, and chair of the Jinjiang City People’s Congress Xue Zuliang.

The shrine was built to commemorate Dr. Rizal’s Chinese ancestral roots. It symbolizes the strong bond of friendship between the Philippines and China. During its inauguration, Speaker De Venecia remarked that the shrine "is a great symbol of the 1,000-year-old friendship between our two nations."

The national hero is the direct descendant of Chinese trader Cua Yi Lam, who immigrated from Siongque ("Zhang-Guo" in Mandarin Chinese) to the Philippines in the later part of the 17th century. Church records show that Cua Yi Lam was baptized Domingo Lamco at the age of 35 in Manila in 1697 and that his birthplace was Siongque village in China.

The monument, made of the world-famous Jinjiang granite stones, stands at 18.61 meters high, which is taller than the 12-meter high Rizal Monument in Manila. It was built on a five-hectare park named in Rizal’s honor, making it the biggest Rizal Shrine outside the Philippines. The park will also be the site of a Rizal museum and library.

The meetings took place on the first day of the President’s five-day, five- province official visit to the People's Republic of China (PROC) meant to further strengthen bilateral and trade relations and friendship between the two countries.

Her first stop was Xiamen City, where she keynoted the luncheon hosted by the Federation of Filipino-Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) and met with the Filipino community there.

Bunye told a press briefing today that the meetings touched primarily on the Chinese businessmen's interest in investing in the country's mining and power industry.

"The first meeting involved the Jinchuan executives who had expressed interest in investing in the Nonok Nickel Mines in Surigao," Bunye said.

Officials of Jinchuan Non-Ferrous Metals Corp. led by its Chairman Liyong Jun called on the President Friday afternoon at her official residence at the Presidential Villa of the Xiamen Mandarin Hotel to stress their intention of investing in the Nonok nickel mines.

Bunye said that during the courtesy call, the Jinchuan executives asked the President about the possibility of assisting them in acquiring Philippine Economic Zone Authority (PEZA) registration and support from the local executives of the province of Surigao.

Bunye said the President assured the executives of granting their requests, stressing "it is in the interest of Surigao to be able to invite this substantial investment which" she (the President) "described as the biggest single investment from China."

"And as far as the company is concerned, they just would like to get additional assurance mainly in form of assistance in getting registered in the country as a Philippine Export Zone Authority (PEZA) company," he said.

"As far as the internal arrangements to be able to proceed are concerned, everything is taken care of," Bunye added, referring to the arrangements with the local successor company (of the Nonok nickel mines), which is the Philippine Nickel Company (Philnico).

Later in the day, the Jinchuan executives signed a Memorandum of Agreement with Philnico Industrial Corp. led by its president and chair Evaristo Narvaez, Jr. The signing of the agreement was witnessed by the President.

Bunye said the Jinchuan executives were "very happy" about the developments, particularly with the "twin assurances" the President gave them.

"It is now a question of operationalizing these two requests," he said.

The second meeting, on the other hand, concerned the interest of China's number one electricity provider, State Grid Xiamen Electric (SGXE) in buying the National Transmission Corporation (Transco).

Bunye said they were impressed with the credentials of State Grid Xiamen Electric which boasts of being able to supply electricity to 88 percent of China's land area. Aside from this, its net profits hit US$89 billion last year.

He said SGXE officials had earlier shown their desire to acquire Transco but was only able to concretize their intention when executives of the electric company paid the President a courtesy call during her stay in Xiamen.

Bunye said that although the company had a favorable advantage due to its track record in the electricity generating business, he stressed that like anything else that concerns the government, the purchase of government assets will still have to go through a bidding process.