China welcomes ASEAN countries aboard the express train of China’s economic development, Han said, and will share the dividends of economic growth with ASEAN. Han announced that China will work with ASEAN to upgrade the China-ASEAN Free Trade Agreement signed in 2004 and accelerate talks for the Regional Comprehensive Economic Partnership. Trade between China and ASEAN economies jumped 19 percent year-on-year to $380.64 billion in the first eight months of this year, according to the General Administration of Customs. Two-way investment has surpassed $200 billion, and China has established more than 4,000 companies in ASEAN countries, according to the Ministry of Commerce. In return, the countries’ agricultural products, daily goods and bulk commodities are also favored by Chinese consumers and manufacturers, Wang said.

Source: The Nation Bangkok September 12, 2018 22:07 UTC