According to the latest data from China’s General Administration of Customs, trade between China and ASEAN countries increased by around 8% year-on-year in the first ten months of 2025. ASEAN has remained China’s largest trading partner for consecutive years.
The data show that trade with ASEAN accounted for about 15.6% of China’s total foreign trade volume, driven mainly by machinery, electronic components, chemical materials, and agricultural products. Vietnam, Malaysia, and Thailand recorded the strongest growth among ASEAN members.
Over 30 Belt and Road Countries Now Allow RMB Settlement for Trade
According to the latest data from the People’s Bank of China and the Ministry of Commerce, as of the end of October 2025, more than 30 Belt and Road partner countries have officially adopted the renminbi (RMB) as a settlement currency for bilateral trade. The internationalization of the RMB continues to accelerate, with cross-border trade settlement mechanisms becoming increasingly mature.
In the first three quarters of 2025, China’s cross-border RMB settlement volume with Belt and Road countries grew by approximately 25% year-on-year, accounting for nearly one-third of China’s total foreign trade in goods and services. The wider use of RMB settlement has effectively reduced foreign exchange risks for enterprises and improved transaction efficiency in international trade.
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