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HANOI – Trade between China and Asean has skyrocketed 85 times since the two sides established dialogue relations 30 years ago, reported the Vietnam News Agency.
Ren Hongbin, the Chinese assistant commerce minister, was quoted by Xinhua as telling a press conference yesterday that Beijing has been the bloc’s largest trading partner for 12 consecutive years.
Last year, Asean was China’s largest trading partner.
In the first half of 2021, said Ren, bilateral trade continued its robust expansion, registering a 38.2% year-on-year growth.
The grouping has become one of China’s major outbound investment destinations and sources of foreign direct investment, with cooperation booming in sectors like manufacturing, agriculture, infrastructure and high technology, as well as the digital and green economies.
Mutual investment between China and Asean exceeded US$310 billion (RM1.3 trillion) as of last month, while the business revenue of Chinese enterprises from projects in Asean countries hit US$350 billion.
Looking ahead, said Ren, China will actively promote economic and trade ties with Asean by enhancing cooperation in the fight against Covid-19 and jointly pushing forward the implementation of the Regional Comprehensive Economic Partnership (RCEP).
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 the southern Guangxi Zhuang Autonomous Region.
With an exhibition area of 124,000 sq m, the expo will have a special area for RCEP members.
More countries and enterprises are encouraged to participate, said Guangxi Vice-Governor Liu Hongwu. – Bernama, July 30, 2021