China Trade with Southeast Asia Jumps 26 Percent in First Quarter

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May 5 – China’s trade with the Association of Southeast Asian Nations increased to US$54.4 billion in the first quarter of 2008, a 26 percent increase over the same period last year, sources with the Ministry of Commerce reported on Friday.

According to Xinhua, bilateral trade reached US$202.5 billion last year, representing a year-on-year increase of 26 percent and achieving the trade target of US$200 billion three years ahead of schedule.

Besides trade, two-way investment, contracted engineering and labor cooperation between China and ASEAN members have developed rapidly.

By the end of 2007, China’s investment in ASEAN members and the latter’s input in the former accumulated to US$48.9 billion, commerce ministry sources said.

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