Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, Aug. 26 (Xinhua) — China's General Administration of Customs on Tuesday released statistics showing that trade between China and the Arab League in the January-July period this year reached 1.72 trillion yuan (241.61 billion U.S. dollars), hitting another historical high for the same period. The figure rose 3.2 percent year on year.
In July, China-LAS trade increased by 6.9 percent to 245.31 billion yuan. In particular, China's exports to the LAS amounted to 135.54 billion yuan, while China's imports from the LAS amounted to 109.77 billion yuan in value terms.
Together with the strong complementarity of the economies of China and the Arab League, the mutually beneficial trade structure has given a steady impetus to bilateral trade and economic cooperation. In January-July this year, the Arab League accounted for over 40 percent of China's total crude oil imports. There has also been an increase in the import of natural gas, petroleum products and metal concentrate from the Arab League to China, which has served as an important guarantee for the stable supply of energy resources to China. During this period, China exported electromechanical products worth 557.66 billion yuan to the Arab League, an increase of 22 percent year-on-year.
China has been steadily deepening cooperation with the LAS in the agricultural sector, assisting the organization's countries in modernizing this area and expanding imports of specific agricultural products from these countries. From January to July, China's exports of agricultural machinery and agricultural seeds to the LAS increased by 10.5 percent and 10.4 percent year-on-year, respectively.
China has retained its status as the LAS's largest trading partner for many years. -0-
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