A truck loads containers at Tangshan Port, north China's Hebei Province, April 16, 2021. (Photo by Li Lei/Xinhua)
BEIJING, April 22 (Xinhua) — Southeast Asian countries, especially Singapore and Indonesia, have benefitted a great deal from China’s post-pandemic rebound, which has brought high hope to the regional economic recovery, according to a recent report by the news magazine Nikkei Asia.
As most countries in the Association of Southeast Asia Nations bloc are involved in China’s supply chains, China’s growth has been “a key external factor,” said the report, adding that “now China is providing a tailwind with its brisk growth and steady outlook.”
In particular, Singapore’s China-bound non-oil exports surged 46.4 percent in March year on year, far greater than the 17.3 percent increase in February, owing to rising machinery and petrochemicals, according to official data published last week.
In Indonesia, non-oil and gas exports to China rose about 63 percent during the first quarter (Q1) year on year, and over 80 percent in March, official data show. China remained the largest export destination in the Q1, said Indonesia’s statistics authorities.
The report also said that the Regional Comprehensive Economic Partnership (RCEP) has “raised hopes for greater trade momentum in the region.”
The RCEP covers 15 signatories, including ASEAN countries, Australia, China, Japan, New Zealand and South Korea.