China-ASEAN trade reached 6.84 trillion yuan, or approximately $960 billion, during the first nine months of 2026, marking a 22.7% year-on-year increase as ASEAN retained its position as China’s top trading partner amid expanding digital and industrial cooperation frameworks.
Trade between China and the Association of Southeast Asian Nations expanded significantly through the first three quarters of the year, driven by established regional partnerships and transport links such as the China-Laos Railway. Data released by the General Administration of Customs of the PRC and cited by ECNS details a robust exchange that outpaced broader regional trends.
Regional Trade Growth Under RCEP Frameworks
The expansion aligns with steady activity across participants in the Regional Comprehensive Economic Partnership. Analysts point to tariff reductions and streamlined customs procedures as key catalysts for commercial flow. Xu Ningning, chief business expert on China-ASEAN cooperation, attributed the growth to geographical proximity, the development of transport connections, and the inherent complementarity of industrial sectors across participating nations.
Trade turnover figures across other key regional partners demonstrated concurrent momentum during the same nine-month window. Japan trade rose 13%, South Korea trade surged 52.5%, Australia trade increased 28.5%, and New Zealand trade grew 4.8%.
Digital Economic Integration and Version 3.0 Agreements
Institutional foundations are deepening as the China-ASEAN Free Trade Area Version 3.0 and the ASEAN Digital Economy Framework Agreement take effect. Ong Tee Keat, president of the Belt and Road Initiative Caucus for Asia-Pacific, noted that these agreements anchor a transformative phase of regional economic cooperation anchored in digital innovation, financial integration, and technological capacity building. This evolution of the Belt and Road Initiative into a high-quality, sustainable phase relies heavily on digital and financial integration alongside physical infrastructure. Additionally, Ong pointed out that bilateral currency swap arrangements, local currency settlement mechanisms, and connected digital payment systems have effectively shielded international commerce from outside disruptions. Pointing to the AI Plus International Cooperation Initiative from China along with bodies like the World Artificial Intelligence Cooperation Organization, the academic emphasized that these frameworks provide workable avenues for fair AI governance and open technology sharing.
Speaking at a recent forum, Ong emphasized that digital and financial integration must accompany physical infrastructure development. Local currency settlements and interoperable digital payment systems have served to insulate cross-border commerce from external economic shocks, according to the scholar.
The true measure of regional resilience lies not in how swiftly the most advanced economies leap ahead, but in our collective ability to uplift the most vulnerable.
Ong Tee Keat, president of the Belt and Road Initiative Caucus for Asia-Pacific
The 23rd China-ASEAN Expo in Nanning
Practical commercial engagement was on display during the five-day 23rd China-ASEAN Expo in Nanning, Guangxi Zhuang Autonomous Region. The exhibition area spanned 170,000 square meters and drew 3,432 enterprises from 73 countries and regions, representing a year-on-year increase of 5.3%, while the three venues together received over 360,000 visits to hit a record high.
An innovative model was also introduced where ASEAN raised questions and China provided solutions through released demand lists. The event leveraged artificial intelligence through an intelligent agent that powered 8,000 pre-matchmaking pairs and 2,000 on-site matchmaking pairs, shifting the focus toward real-world business partnerships while generating a transaction volume exceeding 28 million yuan in the AI Marketplace, which expanded by 60% compared to the previous edition.
Capacity Building and SME Support Programs
Efforts to bring small and medium enterprises into the trading network involve hands-on training and capacity-building initiatives led by institutions such as the ASEAN-China Centre. ACC Secretary-General Zhang Lizhong explained that the center’s mandate extends beyond high-level policy discussions into practical execution and enterprise preparation. Furthermore, the center hosts delegations from ASEAN nations within China while facilitating forums and exchanges to deepen commercial bonds between member countries, actively backing mutual business delegation tours and opening up prospects within the innovation economy and up-and-coming sectors.
Not just in talks but also in action. We hold training and seminars, and even actual exercises on how to make their products meet China’s requirements and business match-making as well as capacity-building.
Zhang Lizhong, Secretary-General of the ASEAN-China Centre
To improve policy alignment, the ACC puts together capacity-building seminars on trade and investment facilitation aimed at small and medium enterprises located across both China and ASEAN nations. These workshops focus on helping regional businesses reduce costs, ease trade transactions, navigate policy requirements, and expand investment opportunities.
Vietnam Trade Performance and Global Balances
Reflecting broader commercial shifts across the region, Vietnam recorded a trade surplus of 1.27 billion USD in September, returning to a surplus after nine consecutive months of trade deficits, according to a socio-economic report released by the National Statistics Office under the Ministry of Finance. Total export and import turnover for Vietnam reached 888.02 billion USD in the first nine months of the year, representing a 30.4% increase year-on-year. Exports totaled 434.30 billion USD, up 24.5%, while imports reached 453.72 billion USD, up 36.7%, leaving a nine-month trade deficit of 19.42 billion USD. Domestic enterprises contributed 83.89 billion USD—making up 19.3% of total exports with a 7.5% annual increase—whereas the foreign-funded sector, which includes crude oil, produced 350.41 billion USD to represent 80.7% of exports following a 29.4% surge.
The United States remained Vietnam’s largest export market during the nine-month period, with shipments worth 140 billion USD, yielding a trade surplus of 122.62 billion USD, up 23.8% year-on-year. Vietnam also posted surpluses of 36.06 billion USD with the European Union, up 25.3%, and 2.65 billion USD with Japan, up 85.9%. Conversely, China stood as Vietnam’s largest source of imports at 187.34 billion USD, contributing to a trade deficit of 121.48 billion USD with China, alongside deficits of 43.75 billion USD with the Republic of Korea and 15.49 billion USD with ASEAN.