BANDAR SERI BEGAWAN – Brunei’s bilateral trade with China reached $2.5 billion (US$1.83 billion) between January and August of this year, a 43 percent increase year-on-year.
Speaking at a virtual reception to mark 30 years of diplomatic relations with Brunei, ambassador Yu Hong said the economic relationship between the two countries had grown significantly in recent years, with China becoming the largest source of foreign direct investment through the Hengyi petrochemical plant.
“Hengyi Industries has extended Brunei’s downstream oil and gas industrial chain and become a new engine boosting local employment and spurring economic growth,” she said.
Hengyi has exported US$4.08 billion worth of petrochemical products since its oil refinery started operations in November 2019.
Date of Release: 1 October 2021
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October 10, 2021
