National flags of China and ASEAN member countries Photo: VCG

 China has remained ASEAN's largest trading partner for 16 consecutive years, while ASEAN has been China's largest trading partner for five straight years, Ministry of Commerce (MOFCOM) said, as the 22nd China-ASEAN Expo is set to open next week in Nanning, capital city of South China's Guangxi Zhuang Autonomous Region.

From January to July this year, trade between China and ASEAN reached $597 billion, an increase of 8.2 percent year-on-year, accounting for 16.7 percent of China's total foreign trade, said Vice Minister of Commerce Yan Dong during at a Thursday press conference, highlighting the growing momentum of bilateral trade.

In 2024, bilateral trade with Vietnam, Malaysia, Indonesia, Thailand and Singapore each exceeded $100 billion, with commerce with Vietnam and Malaysia both surpassing $200 billion, according to Yan.

He underlined growing investment ties between China and ASEAN countries, saying cumulative two-way investment between China and ASEAN had topped $450 billion by July, while Chinese companies had completed $480 billion in contracted projects across ASEAN countries. Cooperation has been expanding in areas such as digital economy, e-commerce and green development, producing visible results, according to MOFCOM.

The vice minister noted that industrial integration has advanced as both sides work together to safeguard stable supply chains against unilateralism and protectionism. A number of industrial parks and connectivity projects are progressing steadily, boosting regional economic and social development.

This year's expo, to be held from September 17 to 21, will feature around 3,200 exhibitors from 45 countries, according to Yan. New sections on artificial intelligence, advanced productive forces, blue economy and premium foreign trade products will be set up in the 160,000-square-meter exhibition space to showcase the latest achievements in China-ASEAN cooperation.

Yan said China looks forward to working with ASEAN countries to make full use of the expo platform, accelerate the signing of the upgraded Version 3.0 China-ASEAN Free Trade Area protocol, and jointly build a closer China-ASEAN community with a shared future, contributing to free trade and the multilateral trading system.


Global Times