Xinhua
29 Jul 2021, 21:48 GMT+10
BEIJING, July 29 (Xinhua) -- Trade between China and the Association of Southeast Asian Nations (ASEAN) has skyrocketed by 85 times since the two sides established their dialogue relations 30 years ago, official data showed.
China has remained ASEAN's largest trading partner for 12 consecutive years, said Ren Hongbin, assistant minister of commerce. In 2020, ASEAN also became China's largest trading partner.
In the first half of this year, bilateral trade between China and ASEAN continued robust expansion, registering a 38.2 percent year-on-year growth, Ren told a press conference Thursday.
On the investment front, ASEAN has become one of China's major outbound investment destinations and sources of foreign direct investment, with cooperation booming in sectors such as manufacturing, agriculture, infrastructure, high-tech, the digital economy, and the green economy.
Mutual investment between China and ASEAN exceeded 310 billion U.S. dollars as of June 2021, while the business revenue of Chinese enterprises from project contracts in ASEAN countries approached 350 billion U.S. dollars.
Looking ahead, Ren said China would actively promote economic and trade ties with ASEAN by enhancing cooperation against the COVID-19 pandemic and jointly pushing forward the implementation of the Regional Comprehensive Economic Partnership (RCEP) agreement.
The 18th China-ASEAN Expo and China-ASEAN Business and Investment Summit will be held from September 10 to 13 in Nanning, the capital of south China's Guangxi Zhuang Autonomous Region.
With an exhibition area of 124,000 square meters, the expo this year will set up a special area for RCEP members and has invited more countries and enterprises along the Belt and Road, according to Liu Hongwu, vice governor of Guangxi.
Get a daily dose of Asia Bulletin news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Asia Bulletin.
More InformationMOSCOW, Russia: Just hours after his sudden dismissal by President Vladimir Putin, Russia's former transport minister, Roman Starovoit,...
DHARAMSHALA, India: The Dalai Lama turned 90 on July 6, celebrated by thousands of followers in the Himalayan town of Dharamshala,...
ZAGREB, Croatia: A massive concert by popular Croatian singer Marko Perković, known by his stage name Thompson, has drawn widespread...
WASHINGTON, D.C.: Elon Musk's entry into the political arena is drawing pushback from top U.S. officials and investors, as his decision...
CULVER CITY, California: TikTok is preparing to roll out a separate version of its app for U.S. users, as efforts to secure a sale...
WASHINGTON, D.C.: President Donald Trump claimed he was unaware that the term shylock is regarded as antisemitic when he used it in...
LONDON, U.K.: This week, BP appointed Simon Henry, former Shell finance chief, to its board as a non-executive director effective September...
OTTAWA, Canada: With Canada Post struggling to maintain operations amid labour unrest, rivals like FedEx and UPS are stepping in to...
NEW YORK, New York - U.S. and global markets showed a mixed performance in Tuesday's trading session, with some indices edging higher...
PARIS, France: French military and intelligence officials have accused China of orchestrating a covert campaign to damage the reputation...
NEW DELHI, India: Birkenstock is stepping up its efforts to protect its iconic sandals in India, as local legal representatives conducted...
HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...