China News Service:

At the end of this month, the 32nd APEC Economic Leaders' Meeting will be held in the Republic of Korea (ROK). Could you please tell us about China's imports and exports with other APEC economies in the first three quarters of this year? Also, what is the trade situation with the ROK, the host of this year's APEC meetings? Thank you.

Wang Jun:

I would like to invite my colleague Mr. Lyu to answer your questions.

Lyu Daliang:

Thank you for the questions. China maintains close economic and trade ties with other member economies of the Asia-Pacific Economic Cooperation (APEC). Mr. Wang just mentioned, in the first three quarters, China's trade with other APEC economies grew by 2% year on year to reach 19.41 trillion yuan, accounting for 57.8% of the country's total foreign trade. Among this, China's imports and exports of high-tech products with other APEC economies both exceeded 2 trillion yuan, up 7.9% and 12% respectively, each accounting for over 60% of China's total imports and exports of such products. Exports of daily consumer goods to APEC partners rose by 5.7%, while imports of sports goods increased by 15.6%.

APEC serves as an important platform for regional economic cooperation. At present, Asia-Pacific cooperation faces challenges such as geopolitical tensions, unilateralism, and protectionism. Building greater consensus and deepening cooperation across various fields will help the region jointly tackle economic challenges and foster a more prosperous Asia-Pacific.

Regarding trade with South Korea, China's imports and exports totaled 1.74 trillion yuan in the first three quarters, up 2% year on year. Exports to South Korea totaled 771.28 billion yuan, up 0.6%, while imports from South Korea rose 3.1% to 967.17 billion yuan. In terms of specific goods, trade in mechanical and electrical products grew by 6%, while agricultural products increased by 3.3%.

China and South Korea are important and close neighbors and key partners for cooperation. Our industrial and supply chains are deeply integrated, forming a closely intertwined development pattern. China is South Korea's largest trading partner, while South Korea ranks fifth for China. Both sides should further expand economic and trade cooperation and work together to uphold the international free trade system. Thank you.