Expert: China ASEAN Economic and Trade Cooperation Shows Resilience in the First Half of the Year

According to data released by the General Administration of Customs on July 14th, China's imports and exports to ASEAN reached 4.34 trillion yuan (RMB) in the first half of 2026, a year-on-year increase of 18.2%. During an interview with reporters on the same day, Xu Ningning, Chairman of the RCEP Industrial Cooperation Committee, stated that China ASEAN trade achieved a relatively high growth rate in the first half of the year, demonstrating the strong vitality and resilience of regional economic and trade cooperation.

According to statistics from the General Administration of Customs, ASEAN has maintained its position as China's largest trading partner for several consecutive years. Within the framework of the Regional Comprehensive Economic Partnership (RCEP), trade between China and South Korea increased by 42.3% year-on-year, trade between China and Japan increased by 13.8%, and trade between China and Australia and New Zealand remained stable. The China ASEAN Free Trade Area is an important foundation for regional integration, and RCEP further expands cooperation boundaries. The two mechanisms complement each other and work together to continuously promote regional trade development.

Xu Ningning analyzed that there is a significant gradient in the growth of intra ASEAN country trade. Indonesia, Vietnam, and Thailand are the main drivers of bilateral trade growth, all maintaining high growth rates of over 20%, with electronic products and components, electrical machinery and components becoming the main trade categories. China's trade with Singapore and the Philippines has steadily increased, with trade in mechanical and electronic products, mineral products, and other goods continuing to expand.

Xu Ningning believes that a tight regional industrial chain division of labor is an important foundation for supporting the steady upward trend of bilateral trade. Relying on a complete manufacturing system, China continues to export production materials such as electromechanical equipment, photovoltaic equipment, and automotive parts to ASEAN; ASEAN, with its resource and location advantages, provides mineral resources, specialty agricultural products, electronic raw materials, and intermediate goods trade as the main body of bilateral exchanges. The rapid growth of new energy related commodity trade, coupled with the continuous release of China ASEAN Free Trade Area policies and RCEP dividends, has led to the continuous cultivation of new trade increments in cross-border logistics and e-commerce.

Xu Ningning pointed out that based on the current good cooperation situation, there is still significant room for improvement in regional economic and trade cooperation. He put forward three suggestions. One is to continue to make good use of the effectiveness of RCEP implementation, optimize customs clearance facilitation measures, and reduce various trade barriers. The second is to work together to promote the implementation of the China ASEAN Free Trade Area 3.0 version as soon as possible, relying on higher levels of openness to expand cooperation space. Thirdly, we will vigorously develop cooperation in the fields of digital trade, green economy, and new energy, improve supporting services, and support small and medium-sized enterprises to deeply integrate into the regional industrial chain.