Core Insights - Guangdong's import and export trade with ASEAN reached 349.43 billion yuan in Q1, a year-on-year increase of 6.9% [1] - ASEAN remains Guangdong's largest trading partner, contributing 1.1 percentage points to the overall growth of Guangdong's trade [1] Trade Performance - Exports to ASEAN totaled 200.17 billion yuan, up 2.9%, while imports were 149.26 billion yuan, increasing by 12.7% [1] - The growth rates for imports and exports outpaced Guangdong's overall trade growth by 3.4 and 1.5 percentage points, respectively [1] Trade Composition - General trade accounted for over 60% of the total trade with ASEAN, with a value of 229.35 billion yuan, growing by 3.1% [1] - Bonded logistics trade surged by 25.8% to 62.69 billion yuan, making up 17.9% of the total [1] - Processing trade reached 51.74 billion yuan, a 1.3% increase, representing 14.8% of the total [1] Enterprise Contributions - Private enterprises were the largest contributors, with imports and exports of 236.31 billion yuan, a growth of 4.7%, accounting for 67.6% of the total [2] - Foreign-invested enterprises saw an 8.6% increase to 93.58 billion yuan, making up 26.8% [2] - State-owned enterprises experienced rapid growth of 32.6%, totaling 19.08 billion yuan, which is 5.5% of the total [2] Key Trading Partners - The top five trading countries within ASEAN for Guangdong were Vietnam, Malaysia, Thailand, Indonesia, and Singapore, with trade values of 90.85 billion, 77.78 billion, 60.93 billion, 39.44 billion, and 36.06 billion yuan, respectively [2] - Trade with Vietnam grew by 6.2%, while Thailand saw a significant increase of 20.2% [2] Product Categories - Exports of electromechanical products to ASEAN reached 121.5 billion yuan, a growth of 21.2%, constituting 60.7% of total exports [3] - Labor-intensive product exports fell by 21.6% to 24.35 billion yuan [3] - Major imports included integrated circuits, computers and components, and semiconductor manufacturing equipment, with significant growth rates [3]

Core Insights - In the first quarter of this year, Guangdong's import and export trade with ASEAN reached 349.43 billion yuan, representing a year-on-year growth of 6.9% [1] - Exports amounted to 200.17 billion yuan, increasing by 2.9%, while imports were 149.26 billion yuan, up by 12.7% [1] - The growth rates of total trade, exports, and imports outpaced Guangdong's overall growth by 2.7, 1.5, and 3.4 percentage points respectively [1] - Since becoming China's largest trading partner in 2020, ASEAN has increasingly strengthened its cooperation with Guangdong, maintaining its position as the province's top trading partner and significantly contributing to the growth of Guangdong's import and export activities [1]