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Highlights of China-ASEAN economic, trade ties

2021-11-24 09:51:22 Xinhua News Agency

China and the Association of Southeast Asian Nations (ASEAN) on Monday announced the establishment of a comprehensive strategic partnership.

China and the Association of Southeast Asian Nations (ASEAN) on Monday announced the establishment of a comprehensive strategic partnership.

This year marks the 30th anniversary of China-ASEAN dialogue relations. Witnessing intensive development of economic globalization and profound changes in the international landscape, the 30 years have also seen China and ASEAN seizing opportunities of the times and achieving leapfrog development.

The following facts and figures offer a glimpse of the achievements of bilateral economic and trade cooperation.

-- In 2020, China remained ASEAN's largest trading partner for 12 consecutive years, while ASEAN became China's largest trading partner.

-- Trade between China and ASEAN has skyrocketed by 85 times since the two sides established their dialogue relations in 1991.

-- In the first half of 2021, bilateral trade between China and ASEAN continued robust expansion, registering a 38.2 percent year-on-year growth.

-- ASEAN has become one of China's major outbound investment destinations and sources of foreign direct investment, with cooperation booming in sectors such as manufacturing, agriculture, infrastructure, high-tech, the digital economy, and the green economy.

-- As of June 2021, mutual investment between China and ASEAN exceeded 310 billion U.S. dollars, while the business revenue of Chinese enterprises from project contracts in ASEAN countries approached 350 billion U.S. dollars.

-- At the 18th China-ASEAN Expo and China-ASEAN Business and Investment Summit that closed on Sept. 13 in the southern Chinese city of Nanning, a total of 179 deals worth a record-high combined value of over 300 billion yuan (about 46.59 billion U.S. dollars) were signed.

-- The Regional Comprehensive Economic Partnership, the world's largest free-trade deal, was signed last November by 15 Asia-Pacific countries, including ASEAN's 10 member states and China. It is widely deemed a massive move for regional economic integration, multilateralism and free trade.

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