Archive for ‘Ministry of Commerce’

14/03/2019

China-ASEAN trade hits record high in 2018

NANNING, March 13 (Xinhua) — Total volume of trade between China and the Association of Southeast Asian Nations (ASEAN) countries hit a record high of 587.87 billion U.S. dollars in 2018, up 14.1 percent year on year, an official with the Ministry of Commerce said Wednesday.

China-ASEAN trade maintained a strong upward momentum last year, with two-way investments amounting to 205.71 billion U.S. dollars, said Yang Weiqun, deputy head of the Department of Asian Affairs, Ministry of Commerce.

The mutual investment stock has grown 22 times since 2004, Yang added when attending a senior officials meeting for the 16th China-ASEAN Expo, which is scheduled to be held from Sept. 20 to 23 in Nanning, capital of south China’s Guangxi Zhuang Autonomous Region.

The theme of this year’s expo is “Building the Belt & Road, Realizing Our Vision for A Community of Shared Future,” with Indonesia as the Country of Honor.

Yang said China hopes to take this chance to strengthen communication and cooperation with ASEAN countries.

Gustanto, Consul General of the Consulate General of the Republic of Indonesia in Guangzhou, said the expo has made positive contributions to bilateral trade between Indonesia and China.

As the Country of Honor, Indonesia plans to bring more exhibitors and deepen bilateral economic and trade cooperation, he said.

Initiated in 2004, the expo is an important platform to promote trade and relations between China and the ASEAN.

Source: Xinhua

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26/02/2019

China’s service trade hits record high in 2018

BEIJING, Feb. 26 (Xinhua) — China’s service trade rose 11.5 percent year-on-year and hit a record high in 2018, the Ministry of Commerce said Tuesday.

Imports and exports of services totaled 5.24 trillion yuan (about 782.1 billion U.S. dollars) last year, ranking the world’s second largest for five years in a row, the Ministry of Commerce said on its website after a national meeting on service trade.

As the country continued to transition its economy, the service sector prospered and contributed to nearly 60 percent of GDP growth.

The country will move to expand service exports, boost service consumption and push poverty reduction through development of the household service industry, according to the ministry.

The country will also work to promote high-quality development of the service trade and commercial service sector, and expand the overseas service market with a focus on countries along the Belt and Road, Xian Guoyi, a ministry official, said at Tuesday’s meeting.

Source: Xinhua

14/12/2018

Sino-US trade talks advance amid close contact: Ministry of Commerce

BEIJING, Dec. 13 (Xinhua) — China and the United States are advancing their trade talks with close communication on details, the Ministry of Commerce (MOC) said Thursday.

“The Chinese side welcomes the U.S. team to visit China for consultation and is open to visiting the U.S. for communication,” MOC spokesperson Gao Feng told a news conference.

Gao said the two countries had reached consensus on specific issues including agricultural products, energy and automobiles. “Soybean has always been an important kind of agricultural import from the U.S. given the huge demand in China.”

Gao said more details of the trade talks would be released.

Chinese Vice Premier Liu He, who currently heads the China-U.S. trade talks, spoke with U.S. officials on Tuesday, and the two sides exchanged views on implementing the consensus reached by the heads of state of the two countries and on the timetable and roadmap to push forward the trade talks.

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