The trade volume between China and the European Union (EU) rose by 25.3% to hit US $ 272.3 billion last year, the Ministry of Commerce (MOC) has announced. China-EU trade accounted for 15.5% of China’s total foreign trade volume last year, and EU remained the top trading partner of China, according to MOC statistics issued on its website.
China’s exports to EU reached US $181.98 billion last year, a year-on-year rise of 26.6%, and its imports from EU went up by 22.7% over the same period last year to hit US $ 90.32 billion. According to EU figures, EU’s imports from China were 135.6 billion Euros, 4.6 billion Euros more than its imports from the United States. China has replaced the United States to become EU’s largest import market.
China approved 2,738 EU-funded projects in 2006, involving a contracted EU investment of US $10.58 billion. By the end of last year, China had approved an accumulated 25,418 EU-funded projects, involving a contracted EU investment of US $97.95 billion.