With shared borders and intertwined histories, China and the Association of Southeast Asian Nations (ASEAN) have fostered a strong partnership rooted in mutual support and benefit. In recent years, this relationship has not only expanded in scale but also deepened in quality, especially in the realms of digital and green economies.
Between January and July this year, trade between China and ASEAN accounted for a significant 15.8 percent of China’s total foreign trade. This impressive figure surpasses China’s trade with the European Union by 2.8 percentage points and with the United States by 4.8 percentage points. Since 2020, ASEAN has maintained its status as China’s largest trading partner, while China has been ASEAN’s top trading partner for 15 consecutive years.
As the global community shifts towards sustainable and low-carbon development, China and ASEAN are transitioning their industrial cooperation. Moving beyond traditional sectors like infrastructure, energy, mining, and textiles, both sides are now focusing on the burgeoning fields of digital and green economies. This strategic pivot marks a new highlight in their collaborative efforts.
In the digital economy sector, the partnership between China and ASEAN is flourishing. Robust demand and innovative collaborations have led to remarkable outcomes. According to the Asian Development Bank, by 2022, nearly 70 percent of the over 670 million people in ASEAN countries were internet users. The “e-Conomy SEA 2023” report, jointly released by Google, Temasek, and Bain & Company, highlighted that Southeast Asia’s digital economy generated $100 billion in revenue in 2023—an eightfold increase since 2016. Key contributors to this growth include e-commerce, tourism, transportation, and media, accounting for 70 percent of the revenue.
The emphasis on digital integration not only accelerates economic growth but also enhances connectivity between China and ASEAN member states. This synergy fosters innovation, creates job opportunities, and paves the way for a sustainable future. As both regions continue to invest in digital infrastructure and green technologies, their cooperation sets a precedent for regional development and global economic collaboration.
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Digital and green economy new highlights in China-ASEAN cooperation
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