China is located in Eastern Asia, bordering the East China Sea, Korea Bay, Yellow Sea, and South China Sea, between Democratic People's Republic of Korea and Vietnam. China has been recording consistent trade surpluses. It is considered as world’s largest exporter and importer. Export growth has been a major component supporting China's rapid economic expansion. Major exports are electromechanical products and labour-intensive products like clothing, textiles, footwear, furniture, plastic products, bags and toys. China’s main export partners are the United States, the European Union, member countries of the Association of Southeast Asian Nations (ASEAN) Japan and the Republic of Korea. China’s main imports are Electronic equipment, Mineral fuels, oil, Machinery, iron ore, copper aluminium and soybeans. China’s main importing partners are EU, ASEAN, Japan, South Korea, Taiwan, Australia, South Africa and Brazil. China has been a member of World Trade Organization (WTO) since 2001.