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Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
Boao, Hainan Province, March 24 (Xinhua) — The foundations of trade integration in Asia continue to strengthen, according to a report released on the sidelines of the Boao Forum for Asia (BOA) on Tuesday.
Intra-regional trade dependence increased from 56.3 percent in 2023 to 57.2 percent in 2024 as the region's largest economies increasingly focus their trade ties on each other, according to the Annual Report on Prospects and Progress of Asian Economic Integration 2026.
The report also notes that bilateral trade among major economies in the Asia-Pacific region is generally gaining momentum, with intra-ASEAN trade recovering and ASEAN-China bilateral trade ranking first.
Moreover, China's exports to emerging economies are growing faster than those to Japan and the Republic of Korea, strengthening its role as a regional hub based on market size and reliable supplies of intermediate goods.
According to the report, China's relations with these partners are evolving from those of traditional "trading partners" to those of a "community of shared destiny," characterized by the close intertwining of production and value chains.
Thanks to growing investment in digital infrastructure, the advantage of demand in vast Asian markets, and deepening regional economic integration, the region is gradually transforming from a participant in international services trade into one of the main drivers of its growth, the report predicts. -0-
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