Bilateral relations between China and Brunei Darussalam continues to go from strength to strength.
During a media appreciation dinner at The Rizqun International Hotel on Tuesday, Ambassador of the People’s Republic of China to Brunei Darussalam Yu Hong said, “Economy is the foundation of social development and progress, and the fundamental guarantee of people’s livelihood. The year 2020 saw brilliant achievements in the economic and trade cooperation between China and Brunei. The bilateral trade volume reached USD1.91 billion, a year-on-year increase of 72.5 per cent, and the import from Brunei to China surged by 217.1 per cent year-on-year, with both growth rates ranking the first among ASEAN nations.”
Regarding the two-way investment over the same period of the previous year, she said, “China’s investment in Brunei soared by 182.8 per cent, being the top among ASEAN nations; China’s assimilation of Brunei’s investment saw a 37.8 per cent rise, securing a second place among ASEAN nations. Earlier this year, the Chinese State Councillor and Foreign Minister Wang Yi paid a successful visit to Brunei.
“The two sides reached important consensus on advancing the bilateral relations, which is believed to lend new opportunities and fresh impetus to China-Brunei cooperation in all fields, including economic and trade.”
Yu Hong also highlighted China’s efforts in eradicating poverty, describing it as essential for human development and progress. “When the People’s Republic of China was founded in 1949, China had one of the highest poverty rates in the world. The rural population, which accounted for 87 per cent of the country’s total population, was generally in abject poverty.
“After 70 years of unremitting efforts, China has successfully lifted 850 million people out of poverty. Since 2013, more than 10 million people have been lifted out of poverty each year. By 2020, China has ensured that all rural residents falling below China’s current poverty line are lifted out of poverty, realising the poverty reduction goal of the United Nations’ 2030 Agenda for Sustainable Development 10 years ahead of time, contributing more than 70 per cent of the world’s poverty reduction.”
Regarding diplomatic relations between both China and Brunei, she said, “This year marks the 100th anniversary of the founding of the Communist Party of China (CPC). We are proud of the progress China has made, which is achieved through the hard work of the Chinese people under the leadership of the CPC.”