Beijing-Sana
Chinese official data revealed today that trade between China and the members of the Regional Comprehensive Economic Partnership has witnessed steady growth since the entry into force of the trade agreement at the beginning of this year.
Xinhua quoted the data of the General Administration of Customs as saying in a statement: "China's trade with the other 14 member states expanded 6.9 percent year on year to reach 2.86 trillion yuan, equivalent to about 448.6 billion US dollars in the first quarter of this year, representing 30.4 percent. of the total value of China's foreign trade.
The data indicated that exports and imports between China and the members of the partnership recorded a steady growth, increasing by 11.1 percent and 3.2 percent compared to the previous year, reaching 1.38 trillion and 1.48 trillion yuan, respectively.
The Regional Comprehensive Economic Partnership is the largest free trade agreement in the world so far and has great importance in promoting free trade, industry and supply chains, and accelerating global economic recovery by eliminating customs tariffs, facilitating trade movement, and opening services and investment.
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