ASEAN – China trade turnover surges in first eight months

The Association of Southeast Asian Nations (ASEAN) has maintained its position as China’s leading trade partner with two-way trade hitting 416.6 billion USD in the January-August period, according to the General Administration of Customs of China.

Illustrative image (Photo: VNA)

The figure was 16 billion USD higher than China’s trade with its second largest partner - the European Union (EU).

ASEAN and China reported a year-on-year expansion of 3.8 percent in trade whereas global trade is hurt by COVID-19.

The ASEAN-China Free Trade Area was rolled out in 2010.

In 2019, ASEAN surpassed the US to become China’s second largest trade partner, with trade turnover hitting 4.4 trillion CNY (about 648.35 billion USD).

Early this year, the bloc took the top position from the EU.

ASEAN and China are forming a new network and supply-demand relationship, especially in electro-mechanics. Trade activities in integrated circuit contributed a 3.2-percent increase to bilateral trade in the first half of this year.

Among ASEAN members, Vietnam recorded strongest trade growth with China, with an increase of 13.4 percent in the first eight months to 111.2 billion USD, followed by Malaysia with 31.2 billion USD./.

CPV (Source: VNA)
News Related

OTHER NEWS

Thanh Hóa FC coach resigns

Football THANH HOA — Coach Nguyễn Thành Công expressed his regret at leaving Thanh Hóa FC, having resigned recently after being forced out by the board. Last Friday, reports emerged that the club’s... Read more »

Tuoi Tre announces return of golf tournament for start-ups

A golf tournament aimed at supporting Vietnamese start-ups first organized by Tuoi Tre (Youth) newspaper last year is set to return for the second edition this September. ‘Golf Tournament for Start-up 2020’ is meant to support... Read more »

Thiem claims U.S. Open title after thrilling fightback

NEW YORK — Austria’s Dominic Thiem finally claimed his first Grand Slam title with a stunning comeback to beat Germany’s Alexander Zverev 2-6 4-6 6-4 6-3 7-6(6) in a brutal and nerve-jangling U.S.... Read more »

Viettel crush Bình Dương to enter National Cup’s semi-finals

Viettel vs Bình Dương in the National Cup’s quarter-finals over the weekend. Viettel beat Bình Dương 4-1. — Photo bongda24h.vn Football HÀ NỘI — Viettel crushed Bình Dương 4-1 to reach the National... Read more »

Next Media, Hà Nội FC launch auction to support fight against COVID – 19 epidemic

Next Media and Hà Nội FC have launched an auction program to support the fight against the COVID-19. — Photo nld.com.vn HÀ NỘI — Hà Nội FC has teamed up with Next Media... Read more »

HCM City FC to meet Hà Nội FC in National Cup semi-finals

Striker Nguyễn Công Phương (middle) vies for the ball in the match between HCM City and Bà Rịa-Vũng Tàu in the National Cup’s quarter-finals on Friday. Photo zing.vn Football HÀ NỘI — HCM... Read more »

VNG launches UpRace Race for Community 

People take part in UpRace’s Race for the Community 2019. Photo Courtesy of VNG HCM CITY— VNG, a technology company, will launch the UpRace’s Race for the Community on September 18. Rather than... Read more »

‘I’m not a magician’, says new VFF technical director

Newly-appointed technical director of the VFF Japanese Yusuke Adachi (right) and coach Park Hang-seo. — Photo laodong.vn HÀ NỘI — Newly-appointed technical director of the Việt Nam Football Federation (VFF) Yusuke Adachi said... Read more »

ASEAN Intergovernmental Commission on Human Rights urged to better performance

Deputy Prime Minister and Foreign Minister Pham Binh Minh chaired the ASEAN Foreign Ministers’ Interface with ASEAN Intergovernmental Commission on Human Rights (AICHR) Representatives that was held online on September 10. Read more »

AFC Cup 2020 scrapped due to COVID-19 epidemic

The AFC Cup 2020 has been cancelled due to Covid-19 pandemic. — Photo baohatinh.vn HÀ NỘI — Asia’s second-tier club football tournament AFC Cup 2020 has been cancelled due to the COVID-19 pandemic,... Read more »