The value of bilateral trade last year exceeded $1 trillion for the first time. Ren Qi, Zhang Li and Zhong Nan report
China’s continued effort to advance high-standard opening-up and deepen cooperation with the Association of Southeast Asian Nations will inject fresh momentum into regional economic integration and create broader development opportunities for businesses across the region, officials and business executives say.
Their comments came as the 23rd China-ASEAN Expo and the China-ASEAN Business and Investment Summit were held in Nanning, Guangxi Zhuang autonomous region.
The China-ASEAN comprehensive strategic partnership was established fi ve years ago, and this year is seen as critical for accelerating the implementation of the China-ASEAN Free Trade Area 3.0 Upgrade Protocol.
Speaking at the opening ceremony on September 17, China’s Vice-Premier Ding Xuexiang called for comprehensively elevating the level of regional openness and accelerating the building of an open, inclusive and rules-based integrated regional market. Ding, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, called for efforts to upgrade trade Young participants explore AI tools during the Acceleration Week for China-ASEAN Youth Development Programs in Nanning, Guangxi Zhuang autonomous region, on September 19. PROVIDED TO CHINA DAILY and investment cooperation to jointly safeguard the stability of regional and global industrial and supply chains.
More should be done to solidify collaboration in emerging sectors, including the digital economy and artifi cial intelligence, he said.
He also called for coordinated e orts to advance the construction of infrastructure, including railways, highways, ports and airports.
The expo and summit, from September 17 to 21, attracted more than 3,400 companies from around 70 countries and regions. The number of participating companies increased 5.3 percent compared with the previous edition.
China has been ASEAN’s largest trading partner for the past 17 years, and ASEAN has been China’s largest trading partner for the past six years. Last year the value of bilateral trade exceeded $1 trillion for the first time.
Vice-Minister of Commerce Yan Dong, who also attended the opening ceremony, said China will promote the early implementation of CAFTA 3.0 to deliver more equitable benefi ts. The Commerce Ministry is willing to work with ASEAN members to enlarge the pie of economic and trade cooperation, he said.
Kao Kim Hourn, secretary-general of ASEAN, said it is important to ensure that all companies, especially micro, small and medium-sized ones, can see tangible benefi ts o ered in the upgraded protocol and take part more broadly in regional supply chains.
This year’s expo featured several new initiatives to boost practical collaboration. Timor-Leste took part in the expo for the first time as a co-host, bringing all 11 ASEAN member states together in Nanning.
Chen Gang, Party secretary of Guangxi, said a new exhibition model had been introduced this year, allowing large companies to lead and support smaller ones in their participation. He also highlighted the debut of a future space and technology companies empowerment exhibition zone.
For businesses, deepening China-ASEAN ties are already creating tangible opportunities.
Zheng Jin, chairman of Guangxi Liugong Group Co, a construction machinery manufacturer, said working with ASEAN is shifting from product sales to collaborative development across industrial, service and innovation chains.
“We are accelerating our transition from exporting products to exporting entire industries,” Zheng said, adding that the company is building a green, smart factory in Indonesia to further localize manufacturing, services and parts supply.
Deng Caidie, president of Maiyue Tech, an IT services provider, said ASEAN members are accelerating their digital transformation. “This is exactly where our market opportunity lies,” she said.
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