ASEAN sustain positive outlook on Chinese economy

ASEAN leaders visiting the ongoing 20th China-ASEAN Expo praised China-ASEAN cooperation and voiced confidence about China’s economic development prospects.

The Vietnamese Prime Minister, Pham Minh Chinh, stated that China’s persistent high-speed expansion over the last decades has contributed greatly to global economic growth and stability, making it a key driving force for the global economy.

Pham Minh Chinh delivered the statements during the expo’s opening ceremony in Nanning, the capital of the Guangxi Zhuang Autonomous Region in south China.

“China has constantly acted as a responsible large country, stabilizing regional economic stability,” Pham Minh Chinh said.

The Belt and Road Initiative is celebrating its tenth anniversary this year, while the China-ASEAN Expo is celebrating its twentieth.

According to official figures, the bilateral trade volume between China and ASEAN has expanded from around 100 billion US dollars in 2004 to 975.34 billion US dollars in 2022.

China has been ASEAN’s greatest trading partner for 14 years in a row, while ASEAN has been China’s largest trading partner for three years in a row.

Several leaders expressed their willingness to continue improving cooperation with China in order to boost their own nations’ growth and regional economic integration at the exhibition.

Laotian Prime Minister, Sonexay Siphandone stated that Laos-China infrastructure cooperation has shown real benefits, emphasizing that the China-Laos Railway, in particular, has not only enhanced connectivity between Laos and China but has also facilitated economic, commercial, investment, and tourism growth in the area.

Malaysian Prime Minister, Anwar Ibrahim stressed China and ASEAN’s strong and vibrant economic and commercial connections.