Those interested in investing and immigrating to the Philippines should note the following Philippines news: Arsenio Balisacan, Director-General of the National Economic and Development Authority (NEDA) of the Philippines, recently stated that bilateral trade between China and the Philippines has developed rapidly over the past four years.
From January to July this year, the total bilateral trade between China and the Philippines reached 10.3 billion USD, a year-on-year increase of 19%. China has become the Philippines' second-largest trading partner, second only to Japan. At the same time, China is also the Philippines' largest source of imports, with import values reaching 5.5 billion USD as of the end of July, a year-on-year increase of approximately 20%.
Balisacan stated that two-way investment between China and the Philippines is on an upward trend. In the first half of this year, investments from China approved by the Philippine government reached 9.62 billion Philippine pesos (approximately 214 million USD), significantly higher than in the same period last year. This is due to the increasing number of Chinese enterprises expanding their investments in the Philippines' manufacturing, services, information, and telecommunications sectors.
