BOAO, Hainan (China), March 24 (Bernama-Xinhua) -- The foundations of Asian trade integration continue to strengthen, according to a report released by the Boao Forum for Asia on Tuesday, reported Xinhua.
Intra-regional trade dependence edged up from 56.3 per cent in 2023 to 57.2 per cent in 2024, as major economies across the region increasingly orient their trade ties toward one another, said the report titled "Asian Economic Outlook and Integration Progress Annual Report 2026."
Bilateral trade among major Asia-Pacific economies is generally gaining momentum, with intra-ASEAN trade rebounding and two-way flows between ASEAN and China leading the recovery, the report noted.
China's exports to emerging economies are growing faster than those to Japan and the Republic of Korea, reinforcing its role as a regional hub supported by market scale and a robust supply of intermediate goods, it added.
China's relationships with these partners are evolving beyond traditional "trading partner" dynamics toward a "community with a shared future", characterised by increasingly intertwined industrial and value chains, according to the report.
Fuelled by rising investment in digital infrastructure, the demand dividend of Asia's vast markets, and deepening regional economic integration, the region is gradually transforming from a participant in global services trade into one of its principal engines of growth, said the report.
--BERNAMA-XINHUA
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