In return, China will remove tariffs
发布日期:2017-10-17 14:24:06    来源:未知    作者:未知    浏览量:31

In return, China will remove tariffs on 71 percent of all South Korean products, or 5,846 items.

Gu Xuebin, vice-president of the Beijing-based Chinese Academy of International Trade and Economic Cooperation, a think tank of the Ministry of Commerce, said that the China-South Korea FTA will provide the means and the impetus for progress toward a China-Japan-South Korea FTA and a Regional Comprehensive Economic Partnership.


Number of Chinese tourists to S. Korea surged 41.6 percent year-on-year to reach 6.13 million in 2014, spending a total of 18.6 trillian won ($16.9 billion) with an average of 3.03 million won per person.

Bilateral trade increased 2.8 percent year-on-year to stand at $235.4 billion last year, among which exports to S. Korea were valued at $90.1 billion – up 8.5 percent year-on-year. Top on the exports' list are mechanical and electrical products (43.2%), base metals (16.3%) and chemical products (7.8%).

China has become S. Korea's largest trading partner, largest source of imports and No 1 export market. S. Korea is now China's fourth-largest trading partner after the European Union, the United States and Japan.

After beauty products, most popular S. Korean products in China are smartphones, home appliances, cars and fashion.

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