China-ASEAN trade forecast to hit $500b by 2015

china-ASEANBilateral trade between China and the Association of Southeast Asian Nations (ASEAN) will reach $500 billion by 2015, Chinese Vice Minister of Commerce Gao Yan said at a press conference on July 23 in Beijing.

In 2012, trade stood at $400.1 billion, the minister said, up from just $54.8 billion in 2002, which makes an average annual growth rate of 22 per cent. The first half of 2013 saw a year-on-year growth of 12.2 per cent at $210.56 billion.

Currently ASEAN is China’s 3rd largest ­tra­ding partner, and the 4th largest export market. It is also the 2nd largest source of imports, as well as a major contributor of foreign tourists to China. China reached a trade surplus of $8.5 billion in 2012.

By the end of June 2013, Chinese direct investment in ASEAN countries totaled nearly $30 billion. China invested in 2,500 companies in ASEAN, creating 120,000 local jobs. Direct investment from ASEAN into China exceeded $80 billion, with $7.1 billion in 2012, according to ministry figures.

A China-ASEAN free trade agreement has been in place since January 1, 2010.

 

 



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Bilateral trade between China and the Association of Southeast Asian Nations (ASEAN) will reach $500 billion by 2015, Chinese Vice Minister of Commerce Gao Yan said at a press conference on July 23 in Beijing. In 2012, trade stood at $400.1 billion, the minister said, up from just $54.8 billion in 2002, which makes an average annual growth rate of 22 per cent. The first half of 2013 saw a year-on-year growth of 12.2 per cent at $210.56 billion. Currently ASEAN is China's 3rd largest ­tra­ding partner, and the 4th largest export market. It is also the 2nd largest source...

china-ASEANBilateral trade between China and the Association of Southeast Asian Nations (ASEAN) will reach $500 billion by 2015, Chinese Vice Minister of Commerce Gao Yan said at a press conference on July 23 in Beijing.

In 2012, trade stood at $400.1 billion, the minister said, up from just $54.8 billion in 2002, which makes an average annual growth rate of 22 per cent. The first half of 2013 saw a year-on-year growth of 12.2 per cent at $210.56 billion.

Currently ASEAN is China’s 3rd largest ­tra­ding partner, and the 4th largest export market. It is also the 2nd largest source of imports, as well as a major contributor of foreign tourists to China. China reached a trade surplus of $8.5 billion in 2012.

By the end of June 2013, Chinese direct investment in ASEAN countries totaled nearly $30 billion. China invested in 2,500 companies in ASEAN, creating 120,000 local jobs. Direct investment from ASEAN into China exceeded $80 billion, with $7.1 billion in 2012, according to ministry figures.

A China-ASEAN free trade agreement has been in place since January 1, 2010.

 

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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