Latest news with #Chinese Foreign Minister
South China Morning Post
a day ago
- Business
- South China Morning Post
As Trump builds tariff walls, China and Asean are building bridges
Amid escalating tensions between the United States and China and lingering trade tensions , China and Asean have gone full steam ahead on upgrading their landmark free trade pact Advertisement China and the Association of Southeast Asian Nations – two key players in the Global South – account for a quarter of the world's population and a fifth of global gross domestic product, contributing to over 30 per cent of global economic growth. In July, Chinese Foreign Minister Wang Yi announced that both sides would submit the '3.0 version' of the China-Asean Free Trade Agreement for approval in October. This signals a push to future-proof Asia's trade flows amid renewed US protectionism and intensifying global competition. With negotiations over, the pact is expected to be signed by the end of 2025. The initial version of the free trade pact was Asean's first with an external partner. The latest upgrade is set to expand cooperation across nine areas, such as digital and green economies. Since the agreement's inception in 2010, Asean's trade with China has almost tripled – from US$235.5 billion in 2010 to US$696.7 billion in 2023. China has been the bloc's largest trading partner for 16 consecutive years. Asean has also become China's top trading partner for the past five years. Last year, bilateral trade almost reached US$1 trillion. In the first four months of 2025, trade reached US$330.86 billion, a 9.2 per cent year-on-year jump. Advertisement Upgrading the pact benefits both sides. It gives Asean countries a chance to deepen regional integration and reinforce supply chains amid rising geopolitical uncertainty. A 2023 HSBC survey found that 92 per cent of Indonesian, 87 per cent of Filipino and 89 per cent of Vietnamese companies expect supply chain growth with China through 2026.
Japan Times
3 days ago
- Business
- Japan Times
China urges Thailand and Cambodia reconciliation in three-way talks
China expressed support for Thailand and Cambodia in resolving their border dispute on Thursday and offered to provide assistance based on the wishes of both nations, Chinese Foreign Minister Wang Yi said. Wang said China supports the Southeast Asian countries in strengthening dialogue and eliminating misunderstandings, adding he hoped they would rebuild mutual trust and restore friendship, according to statements from his ministry. He met his Thai and Cambodian counterparts separately during the day but also convened a three-way conversation on the sidelines of the Lancang-Mekong Cooperation Foreign Ministers' Meeting in China's southwestern Yunnan province, readouts of the three meetings showed. In their "friendly and candid communication", Wang said China hoped that the two countries could reopen border crossings as soon as possible, a Chinese foreign ministry statement said. China also promised support and assistance for land mine clearance in the border areas of Cambodia and Thailand, and the three ministers agreed to continue communication in a "flexible manner", the Chinese statement added. Thailand and Cambodia have wrangled for decades over border territory and a border conflict erupted last month after the killing of a Cambodian soldier in a skirmish late in May. It was the worst fighting in more than a decade and only eased after a ceasefire was struck in late July. In a bilateral meeting with Thailand's Maris, Wang spoke about China's readiness to accelerate a China-Thailand railway construction project, encourage more investments from Chinese enterprises in Thailand and ensure the stability of the regional production and supply chain. It is hoped that Thailand will provide more policy support and facilitation for Chinese enterprises, he told his Thai counterpart. While meeting with Cambodian Foreign Minister Prak Sokhonn, Wang sounded support for Cambodia maintaining political stability, and said China is appreciative of the country's crackdown on online gambling and wire fraud. He also expressed hopes that Cambodia will continue strong measures for joint efforts in the region against cross-border criminal activities.
Al Arabiya
4 days ago
- Politics
- Al Arabiya
China supports Thailand, Cambodia reconciliation, foreign minister says
China expressed support for Thailand and Cambodia in resolving their border dispute and offered to provide assistance based on the wishes of both nations, Chinese Foreign Minister Wang Yi said in a statement on Thursday. Wang said China supports the Southeast Asian countries in strengthening dialogue, and hopes they rebuild mutual trust. He met his counterparts on the sidelines of the Lancang-Mekong Cooperation Foreign Ministers' Meeting in China's southwestern Yunnan province.
Bloomberg
30-07-2025
- Business
- Bloomberg
China's Top Envoy Meets US Business Leaders, Urges Stable Ties
Beijing is willing to strengthen engagement with Washington to avoid misjudgments and manage differences in an effort to promote 'stable, healthy and sustainable' bilateral relations, according to China's top diplomat. China and the US should establish more channels for communication and consultation and view each other objectively and pragmatically, Chinese Foreign Minister Wang Yi told a high-level US business delegation in Beijing on Wednesday, according to a Chinese government statement.
