China and the Association of Southeast Asian Nations (ASEAN) are taking their partnership to new heights, focusing on the digital and green economies. 🚀🌱 With their geographical proximity, these neighbors have become strong allies, driving mutual benefits and innovation.
Trade between China and ASEAN has seen impressive growth in both volume and quality. From January to July this year alone, bilateral trade accounted for 15.8% of China's total foreign trade, surpassing even China-EU trade by 2.8 percentage points and China-U.S. trade by 4.8 percentage points. 📈
ASEAN has been China's largest trading partner since 2020, and conversely, China has held the spot as ASEAN's largest trading partner for 15 consecutive years. This enduring relationship is evolving to embrace the global shift toward green and low-carbon development. 🌍💚
Both sides are expanding their industrial cooperation beyond traditional sectors like infrastructure, energy, mining, and textiles to newer areas such as the digital and green economies. This shift is a significant highlight in China-ASEAN cooperation.
In the digital economy sector, the collaboration has been thriving. According to the Asian Development Bank, nearly 70% of the over 670 million people in ASEAN countries were internet users as of 2022. Moreover, the e-Conomy SEA 2023 report by Google, Temasek, and Bain & Company revealed that Southeast Asia's digital economy generated a whopping $100 billion in revenue in 2023, eight times the amount reported in 2016. 💰💡
E-commerce, tourism, transportation, and media are the key contributors, accounting for 70% of the revenue. This dynamic growth not only fuels economic prosperity but also opens up numerous opportunities for young entrepreneurs and professionals in the region. 🌟
The future looks bright as China and ASEAN continue to innovate and collaborate, setting the stage for a sustainable and digitally empowered tomorrow. 🌟✨
