The ASEAN market has become the largest source of China's foreign trade orders

The ASEAN market has become the largest source of China's foreign trade orders

According to the latest survey report on foreign trade situation in the third quarter released by CCPIT, the top three sources of new orders for Chinese foreign trade enterprises in the current quarter are ASEAN, EU and the United States, accounting for 30.6%, 30.55% and 25.29% respectively. This is also the first time that ASEAN has become the largest source of new orders for foreign trade companies.

As enterprises in the region have become more aware of the Regional Comprehensive Economic Partnership (RCEP) and have improved their ability to use it, the economic and trade cooperation between China and ASEAN has continued to deepen since the beginning of this year.

Statistics show that in the first half of the year, China's cross-border e-commerce exports to ASEAN increased by 98.5%. Asia-Pacific is the region with the best performance of cross-border e-commerce in the world, accounting for 53.6% of the global market size, while China and ASEAN are the key areas for cross-border e-commerce to flourish.

With the gradual recovery of the ASEAN economy, the demand for machinery and equipment in the Southeast Asian market has gradually increased. In the first seven months of this year, China's mechanical and electrical products ranked first among similar imported products from Indonesia, Malaysia, the Philippines, Singapore, Thailand, Vietnam and other ASEAN countries.

Whether it is traditional foreign trade or cross-border e-commerce, ASEAN is a "cake" that cannot be ignored.