China willing to import more from ASEAN

China does not seek a trade surplus and is willing to import more goods from the Association of Southeast Asian Nations, said the Ministry of Commerce on Tuesday.  

The cooperation between China and ASEAN is expected to be further deepened through the upcoming China-ASEAN Expo in September, said Gao Yan, vice-minister of commerce. 

The China-ASEAN Expo is scheduled to take place in the city of Nanning from Sept 12 to 15. 

"China will further deepen the production capacity collaboration with the ASEAN as the country has an abundant amount of advanced production capacity and equipment, which ASEAN needs," said Gao. "China is willing to better implement the Joint Statement between ASEAN and China on Production Capacity Cooperation."

She said after the country had built a strategic partnership with ASEAN 15 years ago, trade between the two parties saw a dramatic uptick.

"In 2017 the trade volume between China and ASEAN reached $514.8 billion, accounting for one-eighth of China's foreign trade volume," Gao said. "In the first five months of 2018, the trade volume has seen an 18.9 percent yearly increase, reaching $232.6 billion."

According to Gao, from January to May, Chinese outbound investment in ASEAN has increased by one-third, reaching $4.17 billion, while foreign direct investment to China has grown by 41.9 percent, totaling $2.9 billion.