In the first quarter of this year, ASEAN remained as China's largest trading partner, with total trade reaching 1.71 trillion yuan ($234.17 billion), marking a 7.1 percent year-on-year increase and accounting for 16.6 percent of China's overall foreign trade, said Lü Daliang, a spokesperson for the General Administration of Customs (GAC).
He made the remarks during a press conference on Monday regarding China's import and export situation with ASEAN countries in the first three months, as well as prospects for future trade between China and ASEAN. In recent years, ASEAN has maintained its position as China's largest trading partner.
In the first quarter, manufacturing products accounted for 90.1 percent of China's trade with ASEAN countries, Lü said.
Chinese exports to ASEAN countries, including flat panel display modules, automotive parts, and lithium batteries, rose by more than 20 percent. Meanwhile, imports from ASEAN, such as components for data processing equipment, printed circuits, while textile raw materials also saw steady growth, the GAC data showed.
He affirmed China and ASEAN countries' commitment to regional economic integration, highlighting how their closely linked industrial chains have driven rapid growth in the import and export of both upstream and downstream products.
Since 2017, ASEAN has remained China's largest trading partner for agricultural products for eight consecutive years.
In the first quarter of this year, China imported agricultural products worth 52.65 billion yuan from ASEAN countries, a 13.8 percent increase, while exporting 37.92-billion-yuan worth of agricultural products to ASEAN countries, up 1.4 percent, Lü said. The complementary nature of both sides' agricultural products has met each other's diverse needs, according to him.
Lü noted that the construction of infrastructure connectivity between China and ASEAN countries has made steady progress, facilitating smoother trade exchanges and turning the resources of both sides into tangible economic results.
In the same period, China's imports to ASEAN via rail transport grew by 37 precent, while imports via road transport increased by 23.2 percent, according to GAC.
Since the China-Laos Railway began operations over three years ago, more than 50,000 freight trains have been run, the spokesperson said. The new Western Land-Sea Corridor seamlessly connects rail and sea transport, allowing for fast transfer from ship to rail and vice versa.
The negotiations for the Version 3.0 China-ASEAN Free Trade Area (FTA) have now been substantively concluded. Both sides will expand mutually beneficial cooperation in emerging industries such as the digital economy, green economy, and supply chain connectivity, while enhancing integration in areas like standards and regulations, Lü said, adding that both sides will work to promote trade facilitation and inclusive development.
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