In the first half of 2020, trade between the ASEAN region and China rose 5.6% to US$314 billion, accounting for 14.7% of China’s total foreign trade volume, signifying the growing trade relationship between China and the ASEAN region since the outbreak of the US-China trade war. This is also reflected in that the ASEAN region has now become China’s largest trading partner and Chinese investment into the ASEAN manufacturing sector rapidly rose from US$1,449 million in 2018 to US$3,250 million in 2019. With FDI inflows to Vietnam reaching an all-time high of US$16 billion this year, particularly in the manufacturing sector, there is increasing importance in navigating the rules of origin.
- Publication date
- 2 March 2021