The 20th China-ASEAN Expo and China-ASEAN Business and Investment Summit opened in Nanning, capital of south China’s Guangxi Zhuang Autonomous Region, with Chinese Premier Li Qiang delivering a keynote speech on September 17.
This year’s expo marks a significant milestone, coinciding with the 10th anniversary of President Xi Jinping’s proposal to build a closer China-ASEAN community with a shared future and jointly construct the Belt and Road Initiative (BRI), as well as the 20th anniversary of China’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
With the 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,” the expo aims to strengthen economic and trade cooperation between China and the Association of Southeast Asian Nations (ASEAN) in the post-pandemic era.
Trade relations between China and ASEAN have seen steady growth, with China maintaining its position as the largest trading partner of ASEAN for 14 consecutive years. Both parties have been each other’s largest trading partners for the past three years. In 2022, bilateral trade volume reached a record $975.3 billion, an increase of 11.2 percent year-on-year, and more than double the trade volume in 2013.
The expo focuses on key areas of the China-ASEAN Free Trade Area 3.0, emphasizing the digital economy and green economy. It brings together businesses in emerging sectors such as new information technology, new energy, new materials, and high-end equipment manufacturing.
This year’s event has attracted nearly 2,000 enterprises from 45 countries and regions, including 350 Fortune Global 500 companies, China’s top 500 companies, and other well-known enterprises. The number of exhibitors has significantly increased compared to its inaugural year in 2004, demonstrating the growing importance of the expo as a platform for international cooperation.
As China and ASEAN countries continue to deepen their economic ties, the China-ASEAN Expo serves as a vital platform for fostering collaboration, promoting high-quality development under the BRI, and contributing to regional and global economic growth.
Reference(s):
cgtn.com
