(ECNS) -- Guangzhou’s foreign trade with ASEAN reached about 150 billion yuan (about $21.3 billion) in the first eight months of the year, up 6.6% year-on-year, according to the city's commerce bureau on Monday.
ASEAN remains the city’s largest economic and trade partner.
Exports of cosmetics, household appliances, and automobiles posted notable gains, rising 42%, 41.6%, and 35.4%, respectively. Singapore, Thailand, Vietnam, Indonesia, Malaysia, and Cambodia are Guangzhou's main trading partners within the bloc.
Economic ties are moving beyond simple merchandise trade toward deeper integration across industrial chains.
In the automotive sector, GAC Group has established six overseas plants across Southeast Asia, with wholesale deliveries in Thailand up 97% year-on-year.
Meanwhile, Guangzhou-based enterprises are increasingly taking their technical standards overseas.
In July, Guangdong Intercity Railway Operation Co., Ltd. secured a 10-year, 900-million-yuan maintenance contract for Malaysia’s East Coast Rail Link. Specialized wholesale markets for apparel and leather goods have also expanded their business-matching efforts across the region.
(By Helen Mo & intern Liu Shuangjing)
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