Asia-Pacific Economic Cooperation (APEC) is an important platform for economic cooperation in the Asia-Pacific region. China is actively leading the development of APEC, contributing more than 60% to the economic growth of the Asia-Pacific region. According to China Customs, China's import and export to other APEC economies in the first 10 months of this year totalled RMB21.27 trillion, setting a record for the same period in history and accounting for 59.1% of China's total import and export value.

Photo by CFP

In the first 10 months, China's imports and exports to other APEC economies increased, reaching a year-on-year growth rate of 5.7%, 0.5 percentage points higher than China's overall growth rate in the same period. Among them, import and export growth rates to Vietnam, Peru, Malaysia and Mexico increased by 17.4%, 16.8%, 12.1% and 11.7% respectively; import and export growth rates to the Democratic People's Republic of Korea (DPRK), Thailand, Canada and Brunei were higher than China's overall growth rate. In addition, import and export to the US, Russia and Singapore maintained growth. 

China's complete industrial system helps other APEC economies to produce better and enjoy a better life. China exported RMB 5.56 trillion worth of intermediate goods to other APEC economies in the first 10 months, up 8.4%, accounting for 45.4% of China's total exports to other APEC economies during this period. Among these, exports of intermediate goods, including electronic components, automobile parts and accessories, automatic data processing equipment accessories and panel display modules, grew by 17.3%, 8%, 24.8% and 24% respectively. China also exported various consumer goods to other APEC economies, such as textiles and garments RMB 906.88 billion, up 3.9%; vegetables and fruits RMB 92.87 billion, up 10.6%; furniture and televisions RMB 181.85 billion, up 8.9%; passenger cars RMB 212.35 billion, up 21.6%.

China's high-quality development offers wider markets and more opportunities for other APEC economies. In the first 10 months of this year, China imported RMB7.23 trillion of intermediate goods from other APEC economies, up 3.5%, accounting for 80.2% of the total import value from other APEC economies. These included electromechanical intermediate goods (RMB 2.88 trillion, up 9.6%), energy products (RMB 1.15 trillion, up 6.6%) and metal ores (RMB 945.1 billion, up 6.4%). (By Jia Zifan/China Youth Daily)