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According to customs statistics, China鈥檚 export to the US declined by 11.4% in the first five months of this year, cutting its trade surplus with the US by 14.5%. China鈥檚 trade with the EU and Japan also dropped, but its total trade with ASEAN increased. What鈥檚 MOFCOM鈥檚 comment on this? How to steadily improve industrial and supply chains in the region?(2020-6-11)

In the first five months of this year, China鈥檚 trade with ASEAN stood at 1.7 trillion yuan, up by 4.2% year on year. China鈥檚 export to ASEAN stood at 936.62 billion yuan, up by 2.8%, and its import from ASEAN stood at 759.86 billion yuan, up by 6%, both higher than the overall growth rate of China鈥檚 import and export over the same period. ASEAN has become China鈥檚 largest trading partner, which speaks volumes about the potential and resilience of trade between China and ASEAN member states.
China and ASEAN enjoy strong economic complementarity. Over the years, countries involved have leveraged their strengths and kept on deepening regional economic cooperation. In particular, since the establishment of China-ASEAN FTA, the two sides have kept on opening markets, promoting trade and investment liberalization and facilitation, and deepening cooperation in industrial chains and supply chains.
China is willing to bolster cooperation with ASEAN in trade, investment and other economic areas. Regional free trade arrangements should be fully utilized to support businesses in expanding trade flows and two-way investment, and jointly ensure the stability, security and prosperity of regional industrial chains and supply chains. Thank you.

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