China's trade with other APEC economies hits record high in Jan-Oct

BEIJING - China's trade with other APEC economies reached a record high of 21.27 trillion yuan ($2.95 trillion) in the first 10 months of 2024, data from the General Administration of Customs showed on Wednesday.

The figure marked a 5.7 percent increase from a year earlier, outpacing the country's total trade growth by 0.5 percentage points during the period, according to the administration.

Between January and October, intermediate goods accounted for over 45 percent of China's exports to other APEC economies. Notably, exports of electronic components, auto parts, components for automated data processing devices, and flat-panel display modules saw rapid growth.

In terms of imports, intermediate goods made up over 80 percent of China's total imports from other APEC economies, with machinery, energy products and metal ores being among the fastest-growing categories, data from the administration showed.

Established in 1989, APEC (Asia-Pacific Economic Cooperation) has become the highest-level, most extensive and most influential economic cooperation mechanism in the Asia-Pacific region.

China officially joined APEC in 1991, marking its first participation in a regional economic cooperation organization.