Xi Jinping calls for more free trade and more stable supply chains at APEC

Xi Jinping calls for more free trade and more stable supply chains at APEC

At a time of global uncertainty and rising trade tensions, Chinese President Xi Jinping urged support for free trade and supply chain stability at the APEC summit in South Korea. This call came a day after a key tariff agreement with the US that Xi and US President Donald Trump signed during their first meeting since 2019. They agreed to cut tariffs on Chinese goods by 10% and China agreed to lift export controls on rare earths. Loud Bangkok Biz News In his speech, Xi emphasized the vitality of international cooperation, especially in difficult economic times.

“We must protect the multilateral trading system and create an open economic environment,” Xi said at the conference. He also highlighted the importance of stabilizing supply chains and promoting both green and digital trade. China's production share of global net value is currently around 27%. But many Chinese companies are increasingly relocating their production to other Asian countries due to rising wages and higher taxes.

Greater focus on ASEAN

Another interesting fact: The ASEAN countries have overtaken China as their largest trading partner and Asia is also the main destination for Chinese direct investment. In the third quarter of 2025, China invested a staggering $15.4 billion in the region, marking the highest level since the COVID-19 pandemic. The initiatives launched by ASEAN and China aim to further advance economic integration, which can also be seen in an updated free trade agreement. Loud Globe Newswire In addition to traditional trade areas, this new agreement also includes digital economy and green developments.

A particular focus is on digital transformation. The 22nd China-ASEAN Expo is currently taking place in the Guangxi Zhuang autonomous region, attracting more than 3,200 exhibitors from 60 countries. The show has an impressive 10,000 square meter AI pavilion and areas dedicated to advanced manufacturing capabilities, showing how serious China is about technology.

A look at China

But what is behind this emerging economic power? China, the People's Republic with more than 1.4 billion inhabitants, not only has a variety of languages ​​and cultures, but has also developed into the world's largest manufacturer and exporter in recent decades. The country has an area of ​​approximately 9.6 million km² and is divided into 33 provincial levels. Under the communist government, China has developed a market-oriented economy that is expected to reach an estimated gross domestic product of $41.016 trillion by 2025 Wikipedia reported. China's advances in science and technology are also noteworthy, as the country invests heavily in research and development. It should not be forgotten that the practice of religion is subject to strict state controls.

In these dynamic times, cooperation between China and the ASEAN countries is a prime example of how countries can deepen their economic ties despite global challenges. The future promises exciting developments, and it will be interesting to see what milestone will be reached next.