SHAOXING XINGZHOU TEXTILE CO.,LTD , https://www.eurofashiontextile.com
As of the eighth month since the establishment of the China-ASEAN Free Trade Area, ASEAN has become the third-largest export destination for Quanzhou, Fujian. According to an official from the Quanzhou Inspection and Quarantine Bureau, in the first eight months of this year, exports to ASEAN countries reached over $300 million, marking a nearly 50% increase compared to the same period last year.
According to official statistics, the bureau issued a total of 7,758 batches of export goods to ASEAN countries during the first eight months of the year, valued at $356 million. This places ASEAN as the second-largest export market for Quanzhou, following the EU and the North American Free Trade Area.
"The top four exported products from Quanzhou include mechanical and electrical goods, footwear, citrus fruits, and textiles," the official added. These sectors have shown strong performance and continue to drive the city's trade growth.
Amid the global financial crisis, demand in European and American markets has sharply declined. As a result, many Quanzhou-based companies have shifted their focus to emerging markets such as ASEAN and Latin America, aiming to diversify their risks and avoid "putting all eggs in one basket." In particular, these enterprises have leveraged the preferential tariff policies under the China-ASEAN Free Trade Agreement to expand their presence in the ASEAN market, helping them navigate through the economic downturn.
From January to August this year, the Quanzhou Inspection and Quarantine Bureau issued 1,299 copies of the China-ASEAN regional preferential certificates, totaling $37.475 million. This represents an increase of more than 50% compared to previous years. The official noted that trade between Quanzhou and ASEAN is now moving at a faster pace.
With over 7.5 million overseas Chinese in Quanzhou, nearly 90% of them are located in ASEAN countries. Many of these local Chinese communities not only possess strong economic power but also have extensive local networks and market knowledge. This has enabled Quanzhou businesses to tap into these resources and successfully introduce products such as electrical appliances, shoes, and clothing into the ASEAN market.
Furthermore, shoe and textile companies in Quanzhou have utilized the human resources of the local Chinese community in ASEAN, combined with local labor, to establish a complete production and sales system within the region. This strategy has helped them effectively bypass technical trade barriers and enhance their competitiveness in the ASEAN market.