The revitalized and upgraded China ASEAN "3.0" has set a new benchmark for regional cooperation

On October 28th, during the 28th China ASEAN Leaders' Meeting, China and ASEAN officially signed the China ASEAN Free Trade Area 3.0 Upgrade Protocol, sparking heated discussions in foreign media. The agreement will benefit both parties, including in the areas of supply chain and sustainable development, open a new chapter in the comprehensive strategic partnership between the two sides, and help overcome global economic uncertainty. International public opinion believes that the relevant achievements reflect China and ASEAN's commitment to multilateralism and free trade, set a new milestone for promoting deep regional economic integration, inject greater momentum into global economic and trade cooperation, and have important demonstration effects.

The signing of the 3.0 version upgrade protocol is inseparable from the strong foundation of cooperation between China and ASEAN countries. Since the beginning of the dialogue process in 1991, China and ASEAN have embarked on a mutually beneficial and win-win regional cooperation path, becoming a key engine for promoting global development. In the current situation of increasing global uncertainty, cooperation between the two sides is still going against the trend: in the first three quarters of this year, China's total import and export value to ASEAN increased by 9.6% year-on-year, and the trade scale between the two sides steadily increased, making each other the largest trading partner and important investment partner.

As the first free trade zone established and negotiated by both sides, the 3.0 version upgrade of the China ASEAN Free Trade Area has attracted much attention. Compared with the 1.0 version, which was fully completed in 2010 with liberalization of goods trade as its core, and the 2.0 version, which came into effect in 2019 and focuses on facilitating trade in services and investment, the upgraded 3.0 version adapts to the new trend of international economic and trade development, deeply expands emerging fields, comprehensively improves the level of openness, and strives to promote inclusive development. Among them, it involves both existing areas of the China ASEAN Free Trade Agreement and emerging fields such as digital economy, green economy, and supply chain connectivity. In terms of openness, version 3.0 focuses on rules and cooperation areas, making the highest level of commitment to China and ASEAN's respective free trade practices, committed to enabling both sides' enterprises and people to benefit from regional economic growth. This is a landmark achievement of both sides in implementing the important consensus of the 30th anniversary commemorative summit of the establishment of dialogue relations between China and ASEAN.

After this signing, China and ASEAN will respectively carry out their respective domestic approval procedures to promote the early entry into force and implementation of the protocol. Zhai Kun, Vice President of the China Association for Southeast Asian Studies and Professor at Peking University, analyzed the International Review that since its establishment, the China ASEAN Free Trade Area has always led the trend of regional cooperation in East Asia. From 1.0 to 2.0 and then to 3.0, this progressive development not only reflects the profound grasp of the laws of economic and trade cooperation between both sides, but also pushes the free trade zone from "quantity accumulation" to "quality leap" through innovation in digital and green rules, reconstruction of standard mutual recognition system, and improvement of supply chain resilience. In the current context of anti globalization impacting the multilateral system, this innovation provides a new "Asian solution" for maintaining an open world economy.

With the comprehensive establishment of a more modern, efficient, and resilient China ASEAN free trade system, the benefits released are multifaceted. For China and ASEAN, the 3.0 version of the Free Trade Area will release huge institutional dividends, further consolidating China's position as ASEAN's largest trading partner, promoting deep integration of industries between the two sides, and creating a more stable regional industrial chain "internal circulation". For the world, it has set a new benchmark for regional cooperation.

On the one hand, the 3.0 version upgrade of the free trade zone focuses on institutional openness, and relevant rules will enhance the voice of developing countries in participating in global governance, establishing a "new paradigm" for exploring regional economic integration cooperation among countries in the global South; On the other hand, under the framework of the Regional Comprehensive Economic Partnership (RCEP), the 3.0 version of the Free Trade Zone will form a rule interface with the Vietnam EU Free Trade Agreement and provide a testing ground for cross regional institutional integration. This "open but not exclusive" model will enable more countries to share development opportunities.

Against the backdrop of global industrial chain restructuring and rising protectionism, the China ASEAN Free Trade Area 3.0 version has become a "stable anchor" for the regional economy through innovative digital trade rules and optimized dispute resolution mechanisms. Data shows that in recent years, the cross-border e-commerce transaction volume between China and ASEAN has grown at an average annual rate of over 20%, becoming an important driving force for the growth of bilateral trade. The Chinese side mentioned that it will take this agreement as an opportunity to accelerate the liberalization and facilitation of trade and investment, strengthen industrial integration and mutual embedding, and continuously expand and optimize the cake of mutual benefit and win-win results.

This year is a crucial year for the relationship between China and ASEAN, bridging the past and ushering in the future. Since May, a series of plans such as the ASEAN Community Vision 2045 and the China ASEAN Comprehensive Strategic Partnership Action Plan (2026-2030) have been released, outlining a new blueprint for the development of ASEAN in the next 20 years. On this basis, how to deepen cooperation between China and ASEAN and promote the comprehensive strategic partnership to a higher level in the future? The Chinese side has put forward three proposals this time, calling for a more solid strategic mutual trust, deeper integration of interests, and stronger emotional connections.

Xu Liping, Director of the Southeast Asian Studies Center at the Asia Pacific and Global Strategy Research Institute of the Chinese Academy of Social Sciences, pointed out to the International Review that these three initiatives are progressing layer by layer, with strategic mutual trust as the premise, interest integration as the foundation, and society and public opinion as the foundation. The synergy of the three will better promote future cooperation and development between China and ASEAN.

The more the international situation changes, the more we need to steer cooperation and build a win-win path together. The recently held Fourth Plenary Session of the 20th Central Committee of the Communist Party of China made a special chapter deployment on expanding high-level opening up to the outside world, emphasizing the creation of a new situation of win-win cooperation. The signing of the upgraded protocol for the China ASEAN Free Trade Area 3.0 is an important measure to implement the spirit of the plenary session. We can look forward to a closer China ASEAN community with a shared future, which will contribute more to promoting world peace and development.