Financial services to buoy China-ASEAN trade ties

Enhanced development of diversified financial services will play a big role in enhancing trade, investment ties between China and the Association of South East Asian Nations, officials said.

China and the ASEAN bloc have witnessed a golden period in trade and investment since 2002, when the two sides first agreed to set up a free trade zone. Bilateral trade increased from $100 billion in 2004 to $443.6 billion in 2013, with China the largest trade partner of ASEAN, according to data provided by the Ministry of Commerce.

"Enhanced financial services will facilitate the future development of trade, investment ties between China and ASEAN," said Wang Lei, deputy secretary-general of the secretariat department of the China-ASEAN Expo.