The 20th China-ASEAN Expo and China-ASEAN Business and Investment Summit kicked off in Nanning, Guangxi Zhuang Autonomous Region, with Chinese Premier Li Qiang delivering a keynote speech. Held on September 17, the event underscores a decade of strengthened ties under the Belt and Road Initiative (BRI).
This year marks the 10th anniversary of Chinese President Xi Jinping's vision for a closer China-ASEAN community and the 20th anniversary of China's accession to the Treaty of Amity and Cooperation in Southeast Asia. The expo's theme, \"Work Together for a Harmonious Home and a Shared Future – Promoting High-Quality Development of the Belt and Road and Building an Epicentrum of Growth,\" aligns with post-pandemic economic recovery and the integration of industrial chains.
Trade between China and ASEAN has reached a new peak, with bilateral trade volume soaring to $975.3 billion, reflecting an 11.2% year-on-year growth. This remarkable increase is more than double the $443.6 billion recorded in 2013. China has maintained its position as ASEAN's largest trading partner for 14 consecutive years, while both sides have been each other’s largest trading partners for the past three years.
The expo focuses on the China-ASEAN Free Trade Area 3.0, emphasizing the digital and green economies. It highlights emerging sectors such as new information technology, new energy, new materials, and high-end equipment manufacturing. The event has attracted nearly 2,000 businesses from 45 countries and regions, including 350 Fortune 500 companies and China’s top 500 enterprises, a significant increase from the 1,505 participants in 2004.
By fostering collaboration in these high-growth areas, the China-ASEAN Expo aims to propel economic and trade cooperation, reinforcing the strategic partnership between China and ASEAN nations and contributing to global economic stability and growth.
Reference(s):
cgtn.com
