Up by 2.1 percent year-on-year, China’s foreign trade in goods reached a record high of 20.1 trillion yuan ($2.8 trillion) in the first half of 2023.
China’s continued cooperation with many emerging markets, including ASEAN and the Philippines, resulted in the country’s steady growth and improved trade quality in the first half of the year, according to datos shared by the Chinese Embassy in Manila yesterday .
Trade with the Association of Southeast Asian Nations (ASEAN), China’s largest trading partner, came to 3.08 trillion yuan, up by 5.4 percent year-on-year, accounting for 15.3 percent of total foreign trade. During the same period, trade with RCEP partners, which the Philippines is also part of, grew by 1.5 percent.
According to the Chinese Embassy, The record numbers not only show the nation’s economic growth but also its resilience amidst many uncertainties in the dynamic international landscape.
China’s upward trajectory in foreign trade is a testament to the nation’s commitment to openness and multilateralism. And with this growth, I hope we see greater benefits for China-Philippine cooperation! The Chinese Ambassador Huang Xilian said.
