Trade Volume between China, ASEAN on the Rise

Home>>Business

Last updated at: (Beijing Time) Wednesday, December 18, 2002

Trade Volume between China, ASEAN on the Rise

The trade volume between China and the members of the Association of Southeast Asian Nations (ASEAN) has been growing rapidly, and ASEAN has become China's fifth largest trade partner.

DISCUSSION

CHINESE

SEND TO FRIEND

The trade volume between China and the members of the Association of Southeast Asian Nations (ASEAN) has been growing rapidly, and ASEAN has become China's fifth largest trade partner.

Surveys released by China's southwestern Yunnan province, which borders ASEAN countries, show that trade volume between China and ASEAN has since 1995 risen by an average of over 15 percent annually.

In 2001, ASEAN's trade with the world's other major economic powers slumped owing to the impact of the "September 11" terror attack on the United States and the ensuing global economic slowdown. But ASEAN and China still registered as much as 41.615 billion US dollars in trade volume in 2001, a rise of 5.3 percent from the previous year.

ASEAN is now the fifth largest trade partner for China, following Japan, the United States, the European Union and the Republic of Korea (ROK). At the same time, China has become ASEAN's sixth major trade partner.

In addition, the bilateral trade structure has been gradually optimized, with new, high-tech products having become increasinglypopular in trade between China and ASEAN.

In 2001, China earned 4.7 billion US dollars through exporting high-tech products to the ASEAN, whereas ASEAN earned 797 million US dollars by selling high and new technology products to China.

Although the trade between China and ASEAN has been growing rapidly, the major export markets of both sides are still the developed nations. And there is still a great potential to furtherexpand trade and investment between China and ASEAN, according to Chinese insiders and economists.

Questions?Comments? Click here

China, ASEAN Economic, Trade Ties Speed Up

Chinese, ASEAN Business Delegates on Cooperation Among Commercial Chambers, Firms

Chinese Economy to Enjoy Bright Future ( 17 Messages)

China Hopes for Constructive US Role in Reunification: Jiang ( 26 Messages)

China Air Force Equipped with J-10 Fighter-bomber ( 3 Messages)

Chinese Scientists Finish First Detailed Map of Rice Genome ( 2 Messages)

Nanjing Marks 65th Anniversary of Japanese Massacre ( 28 Messages)