Jinan Times APP:

China and ASEAN countries are close neighbors connected by mountains and rivers, and their economies are highly complementary. Based on the latest foreign trade data you have just released, what are the highlights of China's economic and trade cooperation with ASEAN? Thank you.

Wang Jun:

Mr. Lyu will answer your questions.

Lyu Daliang:

Thank you for your question. China and ASEAN have been each other's largest trading partners for several consecutive years. In the first half of the year, China's trade with ASEAN rose 18.2% to 4.34 trillion yuan. In the second quarter, bilateral trade increased 20.2% year on year to 2.37 trillion yuan, marking growth for the 10th consecutive quarter. The continued expansion of bilateral trade reflects the fruitful achievements of China-ASEAN regional economic integration.

China and ASEAN have continued to deepen the integration of their industrial and value chains, driving steady growth in trade in intermediate goods. In the first half of the year, China's trade in intermediate goods with ASEAN rose 24.5% to 2.86 trillion yuan, accounting for two-thirds of total bilateral trade. This included electricity, an unusual category of traded goods. Customs statistics generally track cross-border flows of physical goods, but electricity is an exception. Customs data show that in the first half of the year, China exported 2.39 billion kilowatt-hours of electricity to ASEAN countries, up 42.9%, helping meet production and daily needs across the region.

China and ASEAN have continued to improve infrastructure connectivity and expand their cross-border logistics network, providing strong support for bilateral trade. As construction of the New International Land-Sea Trade Corridor has accelerated, transport arrangements combining the China-Laos Railway with China-Europe freight trains, along with the "parallel port" logistics model, have begun delivering results, significantly improving the efficiency of cross-border logistics. In the first half of the year, China's trade with ASEAN via the New International Land-Sea Trade Corridor rose 18.2%, while trade carried by rail and road increased 24.7% and 17.5%, respectively.

To deepen China-ASEAN economic and trade cooperation and improve regional trade security and facilitation, China Customs has established a multi-level mechanism for regular consultation with the customs and inspection and quarantine authorities of ASEAN countries. Last month, the 24th ASEAN-China Customs Consultation was held in Cambodia. The two sides agreed to fully implement the China-ASEAN Smart Customs Partnership Program, with a focus on establishing full electronic connectivity for certificates of origin, expanding mutual recognition of Authorized Economic Operator (AEO) programs, and strengthening connectivity between international trade single-window systems. By bringing digital and smart technologies to cross-border clearance, these measures streamline the processing and submission of documents, improving the sense of gain and satisfaction of businesses engaged in cross-border trade between China and ASEAN countries. Thank you.