China remains ASEAN’s largest trading partner for ninth year in row

Beijing. Jul 20. Silkroadnews - China remains the largest trading partner of the Association of Southeast Asian Nations for the ninth year in a row, with the volume of trading estimated at $514.82 billion last year, which is 6.6 times more than in 2003, when both sides established a strategic partnership, China Daily reports.
Gao Yan, vice minister of commerce, said, over the first five months, trade between Kite and ASEAN grew by 18.9% to $ 232.64 billion.
According to Gao, mutual investments over the past 15 years totaled more than $200 billion, and more than 4,000 enterprises have been established over this time through the direct investment, providing 300,000 jobs for local residents.
Reportedly, the 15th China-ASEAN Expo and China-ASEAN Business and Investment Summit will be held on September 12-15 in Nanning, the capital of the Guangxi Zhuang Autonomous Region.
This year, the highlights of CAEXPO will be the innovations, which also aims to modernize the manufacturing sector in China and the ASEAN countries and improve the integration of value chains.