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China, ASEAN share close ties in trade

CCTV.com

07-26-2016 01:04 BJT

China and ASEAN have a strong trade relationship. According to data, China has been ASEAN's biggest trade partner for seven consecutive years.

Meanwhile, ASEAN has been China's third largest trade partner in five straight years. In 2015, the bilateral trade between the two sides reached more than US$472 billion, jumping 18.5 percent year on year.

The two sides also deepened cooperation in infrastructure construction. In the first five months of this year, total value of new contract projects reached US$10 billion, increasing 8.2 percent from a year ago. China and ASEAN are both founding members of the Asian Infrastructure Investment Bank.

The two sides are working hand in hand on regional economic integration as well. The China-ASEAN free trade area was set up in 2010, implementing zero tariff in the area. Last year, the two sides inked a protocol on deepened cooperation on bilateral trade, aiming to share benefits of regional economic integration to more people. 

The people-to-people exchange is also active between the two sides. By the end of last year, the two sides sent more than 190 thousand overseas students to each other. One top of that, the ASEAN-China center have held nearly 500 activities between the two sides.        

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