China-ASEAN Expo Celebrates 20th Anniversary, Highlights Economic Cooperation and Trade
Beijing, August 25th – The 20th China-ASEAN Expo and China-ASEAN Business and Investment Summit will be held in Nanning, Guangxi from September 16 to 19. The State Council Information Office held a press conference on August 25 to introduce the relevant situation.
This year marks the 10th anniversary of building a closer China-ASEAN community of shared future and the joint construction of the “Belt and Road” initiative, as well as the 20th year since the establishment of the China-ASEAN Expo. Vice Minister of Commerce Li Fei emphasized the significance of the event, stating, “The success of this China-ASEAN Expo is an important measure to promote high-level opening up and an important starting point for deepening China-ASEAN relations.”
Li Fei highlighted the progress made in the China-ASEAN Free Trade Area, with the release of the “Regional Comprehensive Economic Partnership Agreement” (RCEP) further promoting its construction. China and ASEAN have consolidated their positions as each other’s largest trading partners, with the trade volume between the two sides expanding by 1.2 times in the past ten years. Additionally, the cumulative two-way investment between China and ASEAN countries has exceeded US$380 billion, with over 6,500 direct investment enterprises established in ASEAN.
Efforts to further improve the level of opening-up of the China-ASEAN economic and trade system are currently underway. Negotiations for the 3.0 version of the free trade zone are being actively promoted, and various agreements and cooperation initiatives, such as the China-Cambodia Free Trade Agreement and the upgrade of the China-Singapore Free Trade Agreement, have injected strong impetus into regional cooperation.
Sui Guohua, vice chairman of Guangxi Zhuang Autonomous Region, highlighted the theme of this year’s event, “Institutional Opening: New Pattern of Regional Economic Development.” The event aims to deepen cooperation with ASEAN countries and has already produced results in institutional open fields such as rules, regulations, management, and standards. High-level platforms for open cooperation, such as free trade pilot zones, have been upgraded to drive economic development.
More than 40 participating countries and nearly 1,700 exhibitors will take part in the event. The scale of ASEAN exhibitions has returned to pre-epidemic levels, reflecting the recovery in regional economic activity. The China Group Exhibition will focus on key areas such as the digital economy and green economy, with exhibition areas dedicated to digital technology, listed companies, industrial design, and smart agriculture. Prominent companies, including the Top 500, will participate in the exhibition.
The China-ASEAN Expo and summit aim to boost economic recovery and promote regional economic cooperation. Economic and trade promotion activities during the event will closely follow hot spots of cooperation and development. It is estimated that the investment of signed projects will exceed 400 billion yuan, with a significant portion dedicated to manufacturing projects.
Looking ahead, China and ASEAN will continue to expand mutually beneficial cooperation, improve the level of economic and trade cooperation, and promote the construction of a closer China-ASEAN community of shared future. Efforts will focus on increasing the scale of trade, promoting two-way investment, enhancing connectivity, and deepening regional cooperation. By implementing these measures, the China-ASEAN Expo seeks to further integrate regional economies and contribute to global development.