Core Insights - In the first eight months of this year, China's trade with ASEAN reached a record high of 4.93 trillion yuan, marking a year-on-year increase of 9.7% and accounting for 16.7% of China's total trade value during the same period [1][2] - China and ASEAN have been each other's largest trading partners for five consecutive years, with trade volume increasing from over 870 billion yuan in 2004 to nearly 7 trillion yuan in 2024, representing a sevenfold growth [1] - ASEAN has maintained its position as China's largest trading partner for agricultural products for eight consecutive years, with agricultural trade between China and ASEAN reaching 290.6 billion yuan in the first eight months, also up by 9.7% [1] Trade Dynamics - The manufacturing cooperation between China and ASEAN is increasingly close, with over 90% of the trade in manufacturing products. Exports of machine tools and auto parts from China to ASEAN grew by 56.1% and 22% respectively, while imports of computer components and printed circuits from ASEAN increased by 47.4% and 22.2% [2] - The China-ASEAN Free Trade Area is advancing towards version 3.0, which will further expand cooperation areas and promote deep integration of regional supply chains and economic development [2]