Trade between China and CEECs has realized a year-on-year increase of 50.2% in Q1.
Economic and trade cooperation between China and Central and Eastern European Countries (CEECs) has overcome the impact of the pandemic and made great headway, said Ren Hongbin, Assistant Minister of Commerce, on May 12. In 2020, trade between China and 17 countries of Central and Eastern Europe exceeded USD 100 billion for the first time, reaching USD 103.45 billion, up 8.4% YoY. In Q1 2021, China-CEEC trade jumped 50.2% YoY, which is 11 percentage points higher than China’s import and export growth over the same period. In particular, China’s imports from CEECs soared 44.7% YoY.
China-CEEC investment cooperation is also gaining momentum. Official data shows that two-way investment between China and CEEC has totaled nearly USD 20 billion, spanning auto parts, chemical industry, home appliances, and other areas. Emerging investment hotspots include green and low-carbon sectors, medical and health care, and new energy.
(Source: CCPIT / China News Service)