The 20th China-ASEAN Expo (CAEXPO) is being held in China's Nanning City. As the China-ASEAN Expo celebrates its 20th anniversary this year, the two sides send a strong message of regional cooperation.

Against the backdrop of a weak global economy, China and ASEAN managed to buck the trend and achieve increases in trade and investment, Chinese Premier Li Qiang remarked in his opening address at the expo on Sunday.

Trade volume between China and ASEAN has increased by 16.8 times in the past 20 years, Li noted in his speech. The two have been each other's largest trading partners for three consecutive years and two-way cumulative investment has exceeded $350 billion.

China has been ASEAN's largest trading partner since 2009, with trade volume increasing over the years. Latest data from China's General Administration of Customs showed that for the first eight months of 2023, the total trade value between China and ASEAN was 4.11 trillion yuan ($570 billion).

Meanwhile, negotiations on version 3.0 of the China-ASEAN Free Trade Area officially commenced early this year to further liberalize and facilitate bilateral trade flows.

"The China-ASEAN relationship has grown into the most successful and vibrant model for cooperation in the Asia-Pacific, and is a vivid illustration of building a community with a shared future for mankind," said Li.

At the four-day CAEXPO that opened on Sunday, exhibitors showcase their latest achievements in digitalization and low-carbon development. A record number of deals were inked during the expo. 470 project agreements were signed with a combined investment value of 487.3 billion yuan ($66.8 billion).

(Cover via CFP)