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China’s trade with Northeast Asian countries tops $750b

Updated: Jul 22,2019 09:40 PM    Xinhua

BEIJING — China is the largest trading partner of its five Northeast Asian neighbors, with the total trade volume exceeding $750 billion in 2018, the Ministry of Commerce said on July 22.

This figure accounted for nearly one fourth of China’s total foreign trade last year, Assistant Minister of Commerce Li Chenggang told a news conference regarding the 12th China-Northeast Asia Expo.

In breakdown, trade with Japan and the Republic of Korea (ROK) both surpassed $300 billion, while Russia saw its trade with China exceed $100 billion and Mongolia had a tally of nearly $8 billion, Li said.

Investment cooperation between China and the Northeast Asian countries also achieved marked progress, he said.

In the first five months of this year, China’s direct investment in Russia rose 20.1 percent year-on-year to $210 million, while the ROK attracted 73.1 percent more Chinese investment compared with the same period last year, according to Li.

The 12th China-Northeast Asia Expo will be held from Aug 23 to 27 in Changchun, capital city of Northeast China’s Jilin province.

It will feature a total exhibition area of 70,000 square meters and have five other pavilions with themes ranging from northeast China revitalization and imported merchandise to healthcare products and services.