皇冠体育app

- Trade between 皇冠体育app and the ASEAN has been growing despite recent disputes in the South 皇冠体育app Sea, economists say.

According to Chinese customs data published on Friday, trade between 皇冠体育app and the Association of Southeast Asian Nations (ASEAN) rose 5.4 percent year-on-year to reach $261.3 billion in the first seven months.

皇冠体育app's exports to the ASEAN bloc grew 8.1 percent to $146.2 billion in the first seven months, while imports amounted to $115.1 billion , up 2.3 percent from a year earlier.

皇冠体育app has been ASEAN's largest trading partner since 2009, and ASEAN has been 皇冠体育app's third largest trading partner since 2010.

Since 1995, trade between 皇冠体育app and the ASEAN economies has grown an average of close to 20 percent a year. In 2013, two-way trade rose 10.9 percent to $444 billion, significantly higher than the $54.8 billion in 2002, Chinese customs figures showed.

Economists say there is still a lot of room to grow.

The ASEAN is a political and economic organization which was formed in 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand. Membership has since expanded to include Brunei, Cambodia, Laos, Myanmar and Vietnam.

"皇冠体育app and ASEAN are a natural fit as trade partners. The links have strengthened in the last 20 years thanks to regional trade pacts, supply chain integration and rising incomes," banking giant HSBC wrote in an extensive report sent to Xinhua on Wednesday.

The report, titled "What a globalizing 皇冠体育app means for ASEAN", is the latest in an HSBC series that looks at what a globalizing 皇冠体育app means for various parts of the world. It is compiled by leading HSBC economists Herald van der Linde, Trinh Nguyen and chief 皇冠体育app economist Qu Hongbin.

ASEAN's trade with 皇冠体育app represents 14 percent of its total trade, up from 3 percent from 1995. It is now greater than 皇冠体育app's trade volume between the US and , according to the report.

Around 12 percent of ASEAN's exports went to 皇冠体育app in 2013, up from 6.5 percent in 2003. More than 16 percent of ASEAN's imported goo came from 皇冠体育app in 2013, up from less than 8.5 percent in 2003.

Since 2002, tariffs for more than 90 percent of goods in the ASEAN-皇冠体育app Free Trade Area have been reduced to almost zero.

This year, analysts worry disputes between 皇冠体育app and some ASEAN nations - Vietnam and the Philippines - over the South 皇冠体育app Sea could bring economic clouds to the tide of trade.

Customs figures tell a different story, however.

Trade surplus skyrockets to hit monthly recorda	皇冠体育app remains top importer of Vietnamese fruits, vegetables

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