MOIT VIETNAM | ASEAN becomes biggest trade partner of China in H1
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ASEAN becomes biggest trade partner of China in H1
The Association of Southeast Asian Nations (ASEAN) became China's biggest trading partner in the first half of this year, accounting for 14.7 percent of the nation's total foreign trade volume.
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Hanoi, (VNA) - The Association of Southeast Asian Nations (ASEAN) became China's biggest trading partner in the first half of this year, accounting for 14.7 percent of the nation's total foreign trade volume.
China's trade with ASEAN stood at 2.09 trillion CNY (about 299 billion USD) in the first six months, up 5.6 percent year on year. Exports to ASEAN rose 3.4 percent to 1.15 trillion CNY, while imports climbed 8.5 percent to 938.57 billion CNY, data from the General Administration of Customs (GAC) showed on July 14.
According to GAC spokesman Li Kuiwen, the expansion was partly buoyed by growing farm produce trade with ASEAN members under the upgraded protocol of the China-ASEAN Free Trade Area, which came into effect in October 2019. The farm produce trade between the two sides grew 13.2 percent in H1.
During the same period, China's trade with Vietnam jumped 18.1 percent, pushing the bilateral trade volume to the top place among ASEAN members, while trade with Thailand rose 9.2 percent./.
Source: VNA
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