China and ASEAN (Association of Southeast Asian Nations) will forge closer economic ties with evolving trade relations and enhanced industrial cooperation this year.

It is expected that ASEAN’s share in China’s Foreign Trade will continue to rise in 2021, and two-way investment will also increase.

Spurred by supportive policies such as the Belt & Road Initiative, Regional Comprehensive Economic Partnership agreement together with the framework of China-ASEAN Free Trade Area,” said Xu Ningning, Executive President of the China-ASEAN Business Council.

“Such supportive policies will also help create favorable conditions for industrial cooperation between China and ASEAN Member States, which is important for economic development for both sides, especially as cooperation will help form new industry chains within the area with complementary industrial strengths from different countries, and raise global competitiveness,” Xu added.

Author: Liu Yukun
Editor’s note: The article reflects the author’s opinion only, and not necessarily the views of editorial opinion of Belt & Road News.