China rises to 16 Asian countries’ biggest trading partners

Posted by admin 15/09/2017 5 Comment(s)

Data from the MOFCOM shows that trade between China and 25 other Asian countries reached $1.17 trillion in the first 11 months of 2017, making up a third of regional trade. Japan, South Korea, Vietnam, and Malaysia are among China’s top ten trading partners.

A total of $10.77 billion worth of investment from 25 Asian countries went to China, accounting for 9% of the overall foreign capital inflow, while China invested a similar amount in Asian countries ($10.67 billion). Singapore, South Korea, and Japan invested in China more than other Asian countries.

Pakistan, Malaysia, Indonesia, Bangladesh, and Laos became China’s main overseas engineering contract markets. China signed engineering contracts worth $83.84 billion with Asian countries, and turned over $44.79 billion in 2017.

Neighboring countries remain China’s most direct route to the international business environment, said Chen Fengying, a researcher at the China Institutes of Contemporary International Relations (CICIR), adding that strengthening economic and trade integration with neighboring countries will be conducive to creating a sound environment for China’s development. Also, neighbors will benefit from the big country’s development.

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