HomeNewsDiplomatic NewsASEAN-China relations growing by leaps and bounds

ASEAN-China relations growing by leaps and bounds


Beijing, 16 September (TDI): While talking about the China-ASEAN relations, the Chinese Foreign Ministry spokesperson Zhao Lijian told the press conference that after the commencement of diplomatic relations between China and ASEAN in 1991, remarkable success has been achieved in their bilateral trade. The trade volume has expanded 85 times over the last 30 years and the cumulative mutual investment has exceeded $310 billion.

Besides that over 20 trade and economic cooperation zones have been built by two sides. The exports grew from 4.45 billion dollars to 383.68 billion dollars, growing 16.4 percent on an average yearly basis while imports jumped from 3.91 billion dollars to 301.6 billion dollars, with an average annual growth of 16.5 percent.

In the last year, ASEAN was the pinnacle trading partner of China. Also, both sides are the largest trading partner for the last 12 years. The trade structure is constantly optimizing on both sides for the last three decades. Last year, China exported electronic and mechanical products worth $204.48 billion to ASEAN.

Besides, exporting furniture, ships, steel, automobiles, textiles, and fruits to ASEAN. ASEAN’s exports to China include rubber, natural gas, coal, petro, and agriculture products. The connectivity level of China and ASEAN countries has also risen due to the major infrastructure projects implemented between them through the Belt and Road initiative.

According to a report by PwC at the China-ASEAN Expo, ASEAN and Chinese enterprises are optimistic about future trade and economic cooperation between the two countries.

Mehwish Ashraf
Mehwish Ashraf
Editor at TDI and GNP | mashraf12.ma@gmail.com

Follow us


Most Popular