(Yicai Global) April 14 -- China's trade in goods rose almost 11 percent in the first quarter from a year ago while the Association of Southeast Asian Nations retained its position as the largest trading partner.

Trade volume jumped to CNY9.42 trillion (USD1.5 trillion) in the first three months of this year, the General Administration of Customs revealed yesterday. Exports widened by 13.4 percent to CNY5.23 trillion. Imports rose 7.5 percent to CNY4.19 trillion.

In the first quarter, China’s foreign trade achieved a stable start, laying a good foundation for the annual target, said Li Kuiwen, spokesman of the GAC.

The Chinese economy is resilient, and the long-term trend remains optimistic even though the base of last year is relatively high and there are many risks at home and abroad so more efforts are needed to stabilize foreign trade, said Li.

The environment is changing. China’s foreign trade will grow in a squeezed space, but it can achieve positive growth this year due to factors such as demand, competition, and costs, Huo Jianguo, vice president of the China Society for World Trade Organization Studies, said in an interview with Yicai Global.

Exporters have resilience and momentum and can overcome the challenges caused by the international environment, order changes, and the Covid-19 pandemic, Huo added.

China's biggest partner remained the same. Its imports and exports to members of the Southeast Asian political and economic union climbed 8.4 percent to CNY1.35 trillion, making up more than 14 percent of China's total.

But for a second, the top spot belonged to someone else. In the first two months of this year, the ASEAN lagged behind the European Union by about CNY3 billion (USD471 million) and temporarily ranked second among China’s trading partners, said Li. But by March 31, the tally of the EU had grown slower to CNY1.31 trillion.

The EU’s trade volume with China has declined amid the economic slowdown caused by the situation in Ukraine, said Huo. However, the ASEAN will continue to play a bigger role due to the Regional Comprehensive Economic Partnership, the VP added.

The RCEP, a free trade agreement in the Asia Pacific region that came into force in January, should advance economic and trade development between China and the pact's Southeast Asian member countries, said Li. In the first quarter, imports and exports between China and ASEAN members accounted for almost half of China's total with RCEP partners. The pact includes Australia, Japan, South Korea, and Vietnam.

Transport links are expected to be improved. Last September, the government unveiled a plan to build the New Western Land-Sea Corridor to efficiently connect western China with Southeast Asia by 2025. In the first quarter, rail-sea intermodal trains transported 170,000 twenty-foot equivalent units of goods in the corridor, rising by nearly 57 percent from a year ago, according to Li.

Editor: Emmi Laine, Xiao Yi