BEIJING (XINHUA) – The Association of Southeast Asian Nations (ASEAN) has overtaken the United States (US) to become China’s second largest trading partner in 2019, official data showed yesterday.
China’s trade volume with ASEAN climbed 14.1 per cent to CNY4.43 trillion (about USD642.7 billion) last year, data from the General Administration of Customs (GAC) showed.
The European Union (EU) remained China’s biggest trading partner with an eight per cent year-on-year growth to CNY4.86 trillion in bilateral trade, while the US ranked third with a 10.7 per cent fall over 2018 to CNY3.73 trillion, GAC data showed.
Trade between China and its fourth largest trading partner Japan edged up 0.4 per cent to CNY2.17 trillion. China’s trade with countries participating in the Belt and Road Initiative continued to gain momentum, rising 10.8 per cent to CNY9.27 trillion in total.