General

According to customs data, the trade volume between China and ASEAN reached 951.93 billion yuan in January-February this year, up 9.6% year on year. Over the same period, China's foreign trade totaled 6.18 trillion yuan, down 0.8% year on year. In response, Xu Ningning, Executive Chairman of the China-ASEAN Business Council and Chairman of the RCEP Industrial Cooperation Committee, said that in the past three years, China and ASEAN have become the largest trading partners of each other. Trade between China and ASEAN plays an important supporting role in bilateral trade.

Xu Ningning said that in January and February this year, China's top three trading partners were ASEAN, the European Union and the United States; The trade volume between China and the EU was 851.09 billion yuan, down 2.6% year on year; Customs data showed that the trade volume between China and the United States was 702.98 billion yuan, down 10.6% year on year. The trade volume between China and ASEAN is 100.84 billion yuan more than that between China and the EU, the second largest trading partner.

Xu Ningning said that in January-February this year, the trade between China and ASEAN accounted for 15.4% of China's total foreign trade value, compared with 14.0% in the same period last year, and increased by 1.4% this year compared with the same period last year.

According to customs data, in January-February this year, China's exports to ASEAN reached 570 billion yuan, up 17.9% year on year; China's imports from ASEAN amounted to 381.93 billion yuan, down 0.9% year on year; China's surplus was 188.07 billion, up 83.7% year on year. According to customs data, China and Singapore have the largest trade surplus of 71.39 billion yuan, accounting for 38% of the total trade surplus between China and ASEAN; The trade deficit between China and Indonesia is the largest, with 19.71 billion yuan.

Xu Ningning said that ASEAN is an important trading partner of China in RCEP, and the trade creation effect brought by the entry into force of RCEP, the two sides promote closer cooperation in the industrial chain. One year after the implementation of the Regional Comprehensive Economic Partnership Agreement, the policy dividend has continued to be released, promoting closer economic and trade exchanges among countries in the region.

Xu Ningning said that the economic and trade relationship between China and ASEAN has a solid foundation and huge development potential. Looking forward to the future, the bilateral trade between China and ASEAN is expected to achieve new and greater development, driven by the continuous improvement of trade and investment liberalization and facilitation of both sides. According to customs data, in January and February this year, China's imports and exports to countries along the "the Belt and Road" totaled 2.12 trillion yuan, up 10.1%. Among them, export was 1.25 trillion yuan, up 15.2%; Imports reached 869.39 billion yuan, up 3.6%. Among the countries along the "the Belt and Road", ASEAN countries ranked first.