In 2020, among the 15 member states of RCEP, China's trade with 14 other countries accounted for 31.7% of China's total trade value, an increase of 3.5%, of which exports increased by 5%; imports increased by 2.2%.
In 2020, from the perspective of trading partners, the ten ASEAN countries are China's largest trading partners; Japan and South Korea are China's fourth and fifth largest trading partners, with trade increasing by 1.2% and 0.7% respectively; China's trade with Australia will drop by 0.1%; China's imports and exports to New Zealand fell by 0.4%.
In 2020, in terms of export commodities, China’s exports of mechanical and electrical products increased by 7.3%, accounting for 53.8% of the total value of exports to RCEP member countries in the same period. Among them, integrated circuits increased by 15%; automatic data processing equipment and their parts and components increased by 11.1%. During the same period, China's exports of labor-intensive products increased by 11.9%.
In 2020, from the perspective of imported goods, China’s imports of integrated circuits will increase by 9.8%; automatic data processing equipment and its components will increase by 8%; iron ore will increase by 14.7%; and primary-form plastics will decrease by 0.3%.
