Ties with APEC economies to deepen further

China's business links with other Asia-Pacific Economic Cooperation member economies will continue to deepen and remain highly complementary, enabling the region to enjoy growth in an increasingly fragmented global economy, government officials and business executives say.

- BY ZHONG NAN

Lyu Daliang, director of the department of statistics and analysis of the General Administration of Customs, said that as the Asia-Pacific region contends with rising geopolitical friction, unilateral trade actions and a resurgence of protectionism, building consensus and deepening collaboration across key sectors are essential to maintaining growth and tackling economic challenges.

In the first nine months of the year China’s trade with other APEC economies was worth 19.41 trillion yuan ($2.73 trillion), 2 per cent more than in the corresponding period last year, and accounting for 57.8 per cent of the country’s total foreign trade value, the administration said.

China's high-tech imports and exports with other APEC economies each exceeded 2 trillion yuan, 7.9 per cent and 12 per cent respectively more than in the first nine months of 2024, such trade representing more than 60 per cent of China's total imports and exports in the same category of products.