Top 10 News Stories on 2024 China-ASEAN Cooperation

BEIJING,March 6, 2025/PRNewswire/ -- By China Report ASEAN:

As we wrapped up the year 2024 and prepared for 2025, China International Communications Group's Center forAsia-Pacificjoined hands with the Institute of Asian Studies of China Foreign Affairs University and Guangxi University to recount the biggest moments in the passing year and chose the top 10 stories of China-ASEAN cooperation in 2024. The top 10 stories were first released in Nanning,Guangxi ProvinceonFebruary 27.

1. Third Plenary Session of the 20th Central Committee of the Communist Party ofChina(CPC) receives warm response from across ASEAN
   
   The Third Plenary Session of the 20th CPC Central Committee held inJuly 2024marked a new milestone inChina'sefforts to advance reform in the new era. All sectors in ASEAN followed this meeting closely. They spoke highly of theResolution of the CPC Central Committee on Further Deepening Reform Comprehensively to Advance Chinese Modernizationadopted at the meeting. Many recognized it as a milestone gathering in the process ofChina'sreform and opening up which demonstrated the determination of the CPC to comprehensively deepen reform and opening up even further along the path to modernization while also creating important opportunities and major dividends for all countries in the world, especially neighboring countries inSoutheast Asia, and injecting new impetus into the common development of the region. 
   
   
   
   
2. Premier Li Qiang attends Leaders'Meetings on East Asia Cooperation inLaos
   
   OnOctober 10, Chinese PremierLi Qiangattended the 27th China-ASEAN Summit inVientiane, Laos. In his speech, Li remarked that the China-ASEAN relationship has moved far beyond the bilateral scope and taken on great significance forAsiaand the world.Chinaseeks to work hand-in-hand with ASEAN to jointly create a better future forAsia. First, it seeks to create a multidimensional connectivity network, enhance infrastructure cooperation with ASEAN, and expedite the signing and implementation of the 3.0 version of the China-ASEAN Free Trade Area (CAFTA 3.0). Second, moves will be made to expand cooperation in emerging industries, tap the cooperation potential in areas such as the digital economy and green development, and accelerate the digital transformation of traditional industries. Third, it will deepen people-to-people and cultural exchanges and promote implementation of the Global Civilization Initiative in the region.    
   
   
   
   
3. A wave of high-level visits by Southeast Asian countries toChina
   
   In 2024, the top leaders of the 10 ASEAN member states andEast TimorvisitedChinasuccessively, culminating in an unprecedented wave of visits toChina. Among them, Indonesian President Prabowo Subianto visitedChinain his first overseas trip right after he was elected in March and choseChinaas the first country to visit after taking office, attracting tremendous attention. The intensive exchange of high-level visits has played an important role inChina-ASEAN cooperation for a shared future. The visits have empowered the two sides to actively carry out friendly cooperation, continuously enhance mutual understanding and trust, and jointly achieve development and revitalization, injecting stability and positive energy into regional peace and development.
   
   
   
   
4. Negotiations on the 3.0 version of the China-ASEAN Free Trade Area (CAFTA 3.0) wrap up
   
   OnOctober 10, the leaders ofChinaand the 10 ASEAN member states announced the substantial conclusion of negotiations on CAFTA 3.0 and issued theJoint Statement on the Substantial Conclusion of the CAFTA 3.0 Upgrade Negotiations. The upgraded version covers both the existing areas of the CAFTA and emerging areas with great potential for cooperation between the two sides, which is of great pioneering significance.Chinaand the ASEAN member states agree that the substantial conclusion of the CAFTA 3.0 upgrade negotiations demonstrates their firm commitment to upholding a rules-based trading environment, deepening economic integration and practical cooperation in a complex global environment, and accelerating post-pandemic economic recovery. 
   
   
   
   
5. China-ASEAN trade reaches new heights, with both sides remaining each other's largest trading partner
   
   In 2024, the total trade value betweenChinaand ASEAN reached6.99 trillion yuan(US$962.98 billion), up 9.0 percent, accounting for 15.9 percent ofChina'stotal foreign trade. Its exports to ASEAN reached4.17 trillion yuan(US$575 billion), up 13.4 percent, and its imports from ASEAN reached2.82 trillion yuan(US$388.88 billion), up 3.2 percent. Denominated in US dollars, the total value of China-ASEAN trade wasUS$982.34 billion, up 7.8 percent. Chinese exports to ASEAN wereUS$586.52 billion, up 12.0 percent, and Chinese imports from ASEAN wereUS$395.81 billion, up 2.0 percent.Chinahas always taken concrete actions to supportEast Asiacooperation and regional economic integration. It has strengthened industrial chain cooperation with ASEAN, with imports from and exports to ASEAN having grown for nine consecutive years. ASEAN has remainedChina'slargest trading partner for five consecutive years, andChinahas remained ASEAN's largest trading partner for 16 consecutive years.
   
   
   
   
6. The China-ASEAN Year of People-to-People Exchanges yields fruitful results
   
   InSeptember 2023, to commemorate the 10th anniversary of President Xi Jinping proposing the building of an even closer China-ASEAN community with a shared future,Chinaand ASEAN jointly announced that 2024 would be designated as the China-ASEAN Year of People-to-people Exchanges. Both sides placed the preparations and arrangements for the Year of People-to-People Exchanges high on the agenda. The various activities effectively promoted people-to-people and cultural exchanges in various fields and helped people on both sides enhance mutual understanding and friendship. OnOctober 10, the leaders of the two sides jointly released theChina-ASEAN Joint Statement on Deepening Cooperation in People-to-People Exchanges, which affirmed the achievements of the Year of People-To-People Exchange and agreed to extend the China-ASEAN Year of People-to-People Exchanges to 2025. 
   
   
   
   
7. Chinaand ASEAN continue to deepen cross-border payment cooperation
   
   At the 27th China-ASEAN Summit, Chinese PremierLi Qiangindicated thatChinastands ready to strengthen the linkage of cross-border payment systems with ASEAN. Cross-border QR code payment connectivity has already been realized between the payment institutions ofChinaand many ASEAN countries. A China-ASEAN cross-border trade and financial connectivity platform was officially launched at the China-ASEAN Financial Cooperation and Development Conference 2024, marking new progress in building a smart system for China-ASEAN cross-border trade and finance. All sides are now working to deepen China-ASEAN cross-border payment connectivity and enhance cooperation in infrastructure, product services, technical support, and legal supervision to ensure strong support for economic and trade cooperation and personnel exchanges while promoting regional economic integration and prosperity.
   
   
   
   
8. Chinaand ASEAN accelerate connectivity to elevate regional cooperation to new heights
   
   In 2024,Chinaand ASEAN achieved fruitful results in connectivity. The annual freight train trips along the New International Land-Sea Trade Corridor (NILSTC) exceeded 10,000 for the first time. ASEAN Express freight train service was successfully launched, realizing seamless connection of the two major trade channels of the NILSTC and the China-Europe Express freight train service and creating new arteries for Eurasian trade. At the same time, significant progress was achieved with the pan-Asiarailway network: round-trip freight train service commenced on theChina-Laos-Thailand-Malaysiacross-border railway for the first time, the volume of goods transported across borders on the China-Laos Railway surpassed 10 million tons, the Lao section of the China-Laos Railway set numerous records of the average daily passenger flow,ChinaandVietnamofficially signed an intergovernmental agreement on a cross-border standard-gauge railway cooperation project, and Chinese and Malaysian companies signed an agreement on operation and maintenance ofMalaysia'sEast Coast Rail Link and announced plans for the Electric Multiple Unit train design. These achievements in connectivity have not only promoted traffic convenience in the region, but also helped lift China-ASEAN cooperation to new heights.   
   
   
   
   
9. The Regional Comprehensive Economic Partnership(RCEP) Support Unit (RSU) officially begins operation 
   
   OnDecember 9, the RCEP Support Unit (RSU) was officially inaugurated at the ASEAN Secretariat. As the non-ASEAN rotating chair of RCEP in 2024,Chinaworked with ASEAN chairIndonesiato actively lead the 15 parties to establish the RSU as scheduled. The full operation of the RSU is an important milestone in the development of RCEP mechanism and a solid step towards the concrete goal of establishing a separate RCEP secretariat, which is conducive to providing adequate secretarial and technical support for basic implementation of RCEP and promoting full and high-quality implementation.
   
   
   
   
10. China-ASEAN Expo (CAEXPO) enters a new stage of development
    
    FromSeptember 24 to 28, the 21st CAEXPO took place in Nanning,Guangxi, with the theme"Upholding amity, sincerity, mutual benefit, and inclusiveness for common development, creating a diamond crown new future—promoting development of a China-ASEAN Free Trade Area 3.0 and high-quality growth of the region."The scale of participation by ASEAN member states continued to exceed all domestic and international exhibitions. The latest CAEXPO made new achievements in the following 10 aspects: development of friendly relations, empowerment of innovative action, orders on trade transactions, results of investment cooperation, impetus for implementation of CAFTA 3.0, the effects of institutional opening, the effects of the"Nanning Channel,"a platform for the"Never-Ending CAEXPO,"people-to-people and cultural exchanges, and expansion of the influence of CAEXPO.

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SOURCE China Report ASEAN