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China-ASEAN Economic Cooperation Report 2024

The 6th China-ASEAN Legal Cooperation Forum highlights the strong economic ties between China and ASEAN, with a focus on trade, investment, and future collaboration in the digital economy.

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China

International RelationsEuropean UnionInvestmentTradeEconomic GrowthInternational TradeRegional Cooperation

China-Asean Legal Cooperation ForumAseanRcep

What is the current state of trade relations between China and ASEAN?: China has been ASEAN's largest trading partner for the past 15 years, and vice versa for the past 4 years. Bilateral investment between them totaled $380 billion by July 2023, with over 6,500 Chinese-invested businesses in ASEAN.
What are the key areas of future collaboration between China and ASEAN?: Future collaboration will focus on developing digital economy talent to support the digitalization of their economies. This includes addressing the skills gap in the digital economy.
How will the RCEP agreement impact future cooperation between China and ASEAN?: The Regional Comprehensive Economic Partnership (RCEP) will further boost trade and investment liberalization between China and ASEAN, benefiting both sides. Improved infrastructure connectivity will also enhance cooperation.
What was the main finding of the 6th China-ASEAN Legal Cooperation Forum's annual report?: The 6th China-ASEAN Legal Cooperation Forum released the 2024 Annual Report on the Rule of Law and Business Environment of ASEAN Member States, highlighting the strong economic ties between China and ASEAN.
What are the key features of ASEAN's economy and its relationship with Chinese investment?: ASEAN countries are rich in natural resources and are major destinations for Chinese automotive investments, with Chinese brands accounting for 67% of new energy vehicle sales in 2023. Improved rule of law and business environments have attracted investment.

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