Since the inception of the China-ASEAN Expo in 2004, bilateral trade between China and ASEAN nations has witnessed significant growth, achieving an average annual increase of 11 percent from 2004 to 2023, according to China’s General Administration of Customs (GAC). This growth rate has outpaced China’s overall foreign trade growth by 3 percent, with ASEAN’s share of China’s total trade rising from 9.2 percent in 2004 to 15.4 percent in 2023.
The upcoming 21st China-ASEAN Expo, scheduled from 24 to 28 September in Nanning, Guangxi Zhuang Autonomous Region, will continue to serve as a key platform for deepening cooperation between China and ASEAN members.
In the first eight months of 2023, trade between China and ASEAN reached 4.5 trillion yuan ($638 billion), marking a 10 percent year-on-year increase and reinforcing ASEAN’s position as China’s largest trading partner. Private enterprises played a crucial role, with their trade volume growing by 13.3 percent, representing 62.2 percent of China-ASEAN trade.
Additionally, the trade of intermediate goods and agricultural products showed strong growth, with intermediate goods reaching 2.84 trillion yuan, a 9.6 percent increase. China imported 161.34 billion yuan worth of agricultural products from ASEAN, highlighting the region’s critical role in China’s supply chain and food security.
This consistent growth emphasizes the importance of the China-ASEAN Expo as a driving force for trade expansion and economic collaboration across Southeast Asia and beyond.
