Core Points - The China-ASEAN Free Trade Area (CAFTA) has officially entered its 3.0 version with the signing of the upgrade protocol during the 47th ASEAN Summit in Malaysia, marking a significant step in regional economic integration [2][3] - The upgrade protocol expands cooperation into nine key areas, including digital economy, green economy, supply chain connectivity, and standards and regulations, reflecting a mutual commitment to lead international rule-making and promote cooperation in emerging fields [2][4][5] Group 1: Economic Significance - The CAFTA is China's first free trade agreement and plays a crucial role in China-ASEAN economic cooperation, evolving from version 1.0 to 3.0, showcasing efforts towards regional economic integration [3][4] - The signing of the 3.0 upgrade protocol is seen as a vital measure for high-quality open cooperation between China and ASEAN amid global economic uncertainties [4][5] Group 2: Areas of Cooperation - The upgrade protocol covers nine areas, including digital economy, green economy, supply chain connectivity, and technical standards, indicating a shift from traditional trade to a focus on rules and standards [5][7] - The cooperation in digital and green economies is particularly emphasized, with potential benefits for both parties in terms of technology transfer and industry upgrades [8][9] Group 3: Trade Statistics - In the first three quarters of the year, the total trade value between China and ASEAN reached 5.57 trillion RMB, a year-on-year increase of 9.6%, with ASEAN maintaining its position as China's largest trading partner [8][9] - Specific trade growth includes a 28.2% increase in textile machinery exports and a 40.7% increase in rubber imports from ASEAN, highlighting the deepening trade ties [9][10] Group 4: Future Outlook - The CAFTA 3.0 version is expected to enhance regional economic resilience and provide a stable development space for small and medium enterprises by deepening institutional cooperation [5][6] - The ongoing collaboration is anticipated to maximize resource advantages and explore potential in high-tech industries, with Chinese semiconductor companies investing in Malaysia as a notable example [9][10][11]
中国—东盟自贸区迈入3.0时代，数字经济、绿色经济合作迎新机