President Xi Jinping Chooses Southeast Asia for First Overseas Visit of 2025 From April 14 to 18,2025,Chinese President Xi Jinping conducted state visits to Vietnam,Malaysia,and Cambodia.China and Vietnam are socialis...President Xi Jinping Chooses Southeast Asia for First Overseas Visit of 2025 From April 14 to 18,2025,Chinese President Xi Jinping conducted state visits to Vietnam,Malaysia,and Cambodia.China and Vietnam are socialist neighbors linked by mountains and rivers,and the China-Vietnam community with a shared future carries strategic significance.展开更多
On October 28,2025,China and ASEAN signed the China-ASEAN Free Trade Area(CAFTA)3.0 Upgrade Protocol in Kuala Lumpur,Malaysia,in the presence of Chinese Premier Li Qiang,Malaysian Prime Minister Anwar Ibrahim,and lead...On October 28,2025,China and ASEAN signed the China-ASEAN Free Trade Area(CAFTA)3.0 Upgrade Protocol in Kuala Lumpur,Malaysia,in the presence of Chinese Premier Li Qiang,Malaysian Prime Minister Anwar Ibrahim,and leaders of other ASEAN member states.A close look at the protocol shows that the upgraded agreement marks substantive advances on several fronts.展开更多
China and Southeast Asia are entering a new phase of economic cooperation with the China-ASEAN Free Trade Area(CAFTA)3.0 Upgrade Protocol,in which the green economy has emerged as a central pillar of regional integrat...China and Southeast Asia are entering a new phase of economic cooperation with the China-ASEAN Free Trade Area(CAFTA)3.0 Upgrade Protocol,in which the green economy has emerged as a central pillar of regional integration.Negotiations were substantially concluded in October 2024,but the protocol wasn’t officially signed until October 28,2025,in Kuala Lumpur.The agreement moves beyond traditional tariff reductions to expand cooperation into nine major areas and introduces five new pillars:the digital economy,green economy,supply chain connectivity,competition and consumer protection,and support for micro,small,and medium-sized enterprises(MSMEs).展开更多
The 2026 Sanya Chinese New Year Shopping Carnival kicked off on February 7 at Dadonghai Square in Sanya, Hainan Province. Thanks to the Hainan Free Trade Port’s favorable trade policies, specialty products from Vietn...The 2026 Sanya Chinese New Year Shopping Carnival kicked off on February 7 at Dadonghai Square in Sanya, Hainan Province. Thanks to the Hainan Free Trade Port’s favorable trade policies, specialty products from Vietnam,Malaysia, and Indonesia took center stage. Popular with both locals and visitors alike,these products added a vibrant international touch to the fair.展开更多
The China-ASEAN Free Trade Area(CAFTA)3.0Upgrade Protocol added a section on“Supply Chain Connectivity,”which emphasizes that all parties recognize the lessons learned from the COVID-19 pandemic and cooperate to enh...The China-ASEAN Free Trade Area(CAFTA)3.0Upgrade Protocol added a section on“Supply Chain Connectivity,”which emphasizes that all parties recognize the lessons learned from the COVID-19 pandemic and cooperate to enhance the resilience of the regional supply chain.This is an inevitable trend amid the current accelerated restructuring of the global supply chain,the complex and severe international economic and trade situation,and the impact on the regional industrial chain.It also represents a fundamental shift and consensus on the logic of supply chain cooperation between China and ASEAN countries—a transformation from“Efficiency First”to“Resilience First.”展开更多
In December 2025,the ASEAN Centre for Energy(ACE)convened the third ASEAN Power Grid Partnership Meeting,bringing partners together for consultations on key issues.After more than two decades of planning and explorati...In December 2025,the ASEAN Centre for Energy(ACE)convened the third ASEAN Power Grid Partnership Meeting,bringing partners together for consultations on key issues.After more than two decades of planning and exploration,the ASEAN Power Grid is now entering a new phase—shifting from predominantly bilateral,one-way connections toward a multilateral,multidirectional network.展开更多
Since the launch of island-wide special customs operations at Hainan Free Trade Port(Hainan FTP),the proportion of “zero-tariff”imported goods has increased significantly from 21 to 74 percent, and high-quality good...Since the launch of island-wide special customs operations at Hainan Free Trade Port(Hainan FTP),the proportion of “zero-tariff”imported goods has increased significantly from 21 to 74 percent, and high-quality goods from Southeast Asia can enter Hainan at a more competitive price. If goods contain imported materials and achieve at least 30 percent added value through local processing,they can enter the Chinese mainland market with an exemption from import tariffs, effectively gaining market access across China.展开更多
The world economy is now in a period of indepth adjustment.The intensification of geopolitical conflicts,a rise of trade protectionism,and reconfiguration of global supply chains have prompted all countries to re-exam...The world economy is now in a period of indepth adjustment.The intensification of geopolitical conflicts,a rise of trade protectionism,and reconfiguration of global supply chains have prompted all countries to re-examine their openness to trade amid rising uncertainties.Against this backdrop,China’s continuing commitment to promoting higherlevel opening up and building the Hainan Free Trade Port(Hainan FTP)has distinct contemporary significance and strategic value.展开更多
The dedicated freight channel at the Youyiguan Border Gate in south China’s Guangxi Zhuang Autonomous Region buzzes with activity as trucks loaded with export goods move steadily through customs.Thanks to a system up...The dedicated freight channel at the Youyiguan Border Gate in south China’s Guangxi Zhuang Autonomous Region buzzes with activity as trucks loaded with export goods move steadily through customs.Thanks to a system upgraded at the start of 2026,clearance personnel at this China-Vietnam crossing simply place an order online,and the entire process is handled almost instantly via an intelligent platform.Adding to the efficiency,the border gate also features dedicated lanes that support driverless container trucks.展开更多
On January 15,the list of Top10 News Stories on ChinaASEAN Cooperation 2025 was officially unveiled at a ceremony in Nanning,capital of southwest China’s Guangxi Zhuang Autonomous Region.The event was supervised by C...On January 15,the list of Top10 News Stories on ChinaASEAN Cooperation 2025 was officially unveiled at a ceremony in Nanning,capital of southwest China’s Guangxi Zhuang Autonomous Region.The event was supervised by China International Communications Group(CICG),China Foreign Affairs University(CFAU),and the Publicity Department of the Communist Party of China(CPC)Guangxi Zhuang Autonomous Regional Committee and co-hosted by the CICG Center for AsiaPacific,CFAU Institute of Asian Studies,Guangxi University,and Guangxi International Communication Center.展开更多
Against a backdrop of rising global trade protectionism and accelerated restructuring of international industrial and supply chains,regional institutional cooperation is becoming a key force in stabilizing cross-borde...Against a backdrop of rising global trade protectionism and accelerated restructuring of international industrial and supply chains,regional institutional cooperation is becoming a key force in stabilizing cross-border trade and investment.The ASEAN region enjoys strong economic growth momentum with a distinct demographic advantage while China boasts a complete industrial system and manufacturing capacity.展开更多
I am honored to share my thoughts on the China–ASEAN Expo(CAEXPO),an event that continues to serve as a vital bridge between China and the ASEAN community—including my country,Thailand.Over the past five consecutive...I am honored to share my thoughts on the China–ASEAN Expo(CAEXPO),an event that continues to serve as a vital bridge between China and the ASEAN community—including my country,Thailand.Over the past five consecutive years,I have personally had the privilege of participating in CAEXPO annually.Each year,I witness not only the vibrant energy and growing scale of the event,but also the strengthening bonds between our countries through trade,innovation,and cultural exchange.The expo is more than just a venue for showcasing products;it is a dynamic platform that fosters meaningful partnerships and drives regional cooperation forward.展开更多
On April 2,U.S.President Trump slapped“reciprocal tariffs”on over 100 global trading partners,hitting nine ASEAN member states hard.Alarmingly,even the UN-designated Least Developed Countries(LDCs)were not spared.Th...On April 2,U.S.President Trump slapped“reciprocal tariffs”on over 100 global trading partners,hitting nine ASEAN member states hard.Alarmingly,even the UN-designated Least Developed Countries(LDCs)were not spared.These included Cambodia,where nearly 20 percent of the population lives below the poverty line,facing a 49 percent tariff;Laos,with a poverty rate near 20 percent,facing 48 percent;and Myanmar,which recently suffered a devastating earthquake,facing 44 percent.展开更多
Over the past two decades,the China-ASEAN Expo(CAEXPO)has developed into an important platform for China-ASEAN cooperation and helped drive the upgrading of China-ASEAN relations from a strategic partnership to a comp...Over the past two decades,the China-ASEAN Expo(CAEXPO)has developed into an important platform for China-ASEAN cooperation and helped drive the upgrading of China-ASEAN relations from a strategic partnership to a comprehensive strategic partnership.Efforts from both sides have helped build a closer China-ASEAN community with a shared future.On September 24,2024,the 21st CAEXPO kicked off in Nanning,capital of Guangxi Zhuang Autonomous Region,marking a new start for a shining future of the international event.展开更多
On 5 March,2025,the"Spring Blossoms"ASEAN-China Lady Cultural Gathering was held at the White Pagoda Academy in Beijing.The event was co-hosted by the ASEAN-China Centre and the Beijing People's Associat...On 5 March,2025,the"Spring Blossoms"ASEAN-China Lady Cultural Gathering was held at the White Pagoda Academy in Beijing.The event was co-hosted by the ASEAN-China Centre and the Beijing People's Association for Friendship with Foreign Countries.展开更多
This study examines the return connectedness between decentralized finance(DeFi)’s and the Association of Southeast Asian Nations(ASEAN)stock markets using the quantile vector autoregressive framework,which allows us...This study examines the return connectedness between decentralized finance(DeFi)’s and the Association of Southeast Asian Nations(ASEAN)stock markets using the quantile vector autoregressive framework,which allows us to investigate the connectedness at conditional quantiles.Our sample includes four major DeFi’s and six ASEAN stock markets,spanning from March 2018 to December 2022.The static results indicate a moderate level of return transmission between the system at mean and median quantile.This propagation increases substantially under extreme market conditions,establishing an asymmetric transmission across quantiles.Despite being a relatively new asset class,DeFi dominates the equity market and acts as the primary shock transmitter to the system in most instances.The dynamic analysis reveals that total system connectedness fluctuates over time and quantiles.The total system connectedness peaked during the COVID-19 and the Russia–Ukraine conflict period,indicating the impact of global events on system transmission.The optimal weight and hedge ratio estimated using the DCC-GARCH model indicate that DeFi is beneficial for portfolio construction and risk management.The rising trend in dynamic optimal weight and hedge ratio during the COVID-19 pandemic demonstrates that investors should decrease their investments in DeFi and increase hedging costs.Therefore,portfolio managers and investors should readjust their portfolio allocation in a timely manner according to different market states to build additional effective hedging and diversification strategies to avoid large losses and to reduce portfolio risk exposure.展开更多
Based on market integration theory,we investigate the static and dynamic connectedness between nonfungible tokens(NFTs)and the Association of Southeast Asian Nations(ASEAN)equity markets using the Quantile Vector Auto...Based on market integration theory,we investigate the static and dynamic connectedness between nonfungible tokens(NFTs)and the Association of Southeast Asian Nations(ASEAN)equity markets using the Quantile Vector Auto Regressive model.We also compute optimal weights and hedge ratios for our variable of interest to establish their diversification and hedging potential.Our analysis infers a moderate level of return transmission at the median quantile,where equity markets evolved as the net recipients of return spillover from the system,while NFTs emerge as key transmitters.In extreme market conditions,transmission between variables is amplified,but the increase is symmetrical across extreme quantiles,suggesting a similar impact.However,the interlinkage among assets is symmetric across conditional quantiles.The dynamic analysis demonstrates that the system integration amplifies during uncertain times(e.g.,COVID-19 and the Russia–Ukraine conflict).Our portfolio analysis shows that NFTs provide diversification and hedging in all market conditions.However,the period of turmoil dampened the diversification potential,and hedging became expensive.Our study offers detailed and insightful information about the transmission mechanism and enables the participants of financial markets to diversify and hedge their portfolio.展开更多
The“return to the Asia-Pacific”policy and the“Asia-Pacific rebalancing”policy during the Obama period marked the germination of the Indo-Pacific strategy of the United States,and since then,the Indo-Pacific strate...The“return to the Asia-Pacific”policy and the“Asia-Pacific rebalancing”policy during the Obama period marked the germination of the Indo-Pacific strategy of the United States,and since then,the Indo-Pacific strategy has been continuously strengthened by the two administrations of Trump and Biden(Ling,2023).In order to stop China from rising,the United States has been trying to draw the ten ASEAN countries which are geographically close to China to American side.However,due to the different national conditions and the different needs of the ten countries,it is difficult for the United States to keep ASEAN’s attitude towards China consistent under the frame of Indo-Pacific strategy.Therefore,this paper will analyze the different attitudes of the ten countries towards China respectively,so as to help China formulate better policies and find better ways to cope with America’s containment of China’s rise and maintain regional and world peace.展开更多
In Chinese tradition,the term“耄耋”(Mào Dié)refers to those in their nineties,a stage of life associated with wisdom and longevity.As the Bank of China Singapore Branch(BOCSG)approaches its 90th anniversar...In Chinese tradition,the term“耄耋”(Mào Dié)refers to those in their nineties,a stage of life associated with wisdom and longevity.As the Bank of China Singapore Branch(BOCSG)approaches its 90th anniversary,this expression captures the spirit of an institution that has stood the test of time.Since its establishment in Singapore in 1936,the BOCSG has maintained a strong and enduring presence not only in Singapore but across Southeast Asia,serving as a bridge between China and Singapore,and more broadly,between China and the ASEAN region.Its continued growth has been underpinned by the mutual prosperity of both economies and the strength of their longstanding and harmonious ties.展开更多
ASEAN-China Centre(ACC)is an inter-governmental organization co-founded by 10 ASEAN Member States(AMS)and China.ACC was officially launched at the Commemorative Summit marking the 20th anniversary of ASEAN-China dialo...ASEAN-China Centre(ACC)is an inter-governmental organization co-founded by 10 ASEAN Member States(AMS)and China.ACC was officially launched at the Commemorative Summit marking the 20th anniversary of ASEAN-China dialogue relations on 18 November 2011.ACC Secretariat is located in Beijing.The current Secretary-General is H.E.Mr.Shi Zhongjun.The establishment of ACC reflects the fruitful development of ASEAN-China relations and the strategic vision of the leaders of both sides.As a one-stop information and activities centre,ACC is committed to promoting friendly exchanges and practical cooperation between ASEAN and China in various fields including trade,investment,education,culture,tourism,and information and media.展开更多
文摘President Xi Jinping Chooses Southeast Asia for First Overseas Visit of 2025 From April 14 to 18,2025,Chinese President Xi Jinping conducted state visits to Vietnam,Malaysia,and Cambodia.China and Vietnam are socialist neighbors linked by mountains and rivers,and the China-Vietnam community with a shared future carries strategic significance.
文摘On October 28,2025,China and ASEAN signed the China-ASEAN Free Trade Area(CAFTA)3.0 Upgrade Protocol in Kuala Lumpur,Malaysia,in the presence of Chinese Premier Li Qiang,Malaysian Prime Minister Anwar Ibrahim,and leaders of other ASEAN member states.A close look at the protocol shows that the upgraded agreement marks substantive advances on several fronts.
文摘China and Southeast Asia are entering a new phase of economic cooperation with the China-ASEAN Free Trade Area(CAFTA)3.0 Upgrade Protocol,in which the green economy has emerged as a central pillar of regional integration.Negotiations were substantially concluded in October 2024,but the protocol wasn’t officially signed until October 28,2025,in Kuala Lumpur.The agreement moves beyond traditional tariff reductions to expand cooperation into nine major areas and introduces five new pillars:the digital economy,green economy,supply chain connectivity,competition and consumer protection,and support for micro,small,and medium-sized enterprises(MSMEs).
文摘The 2026 Sanya Chinese New Year Shopping Carnival kicked off on February 7 at Dadonghai Square in Sanya, Hainan Province. Thanks to the Hainan Free Trade Port’s favorable trade policies, specialty products from Vietnam,Malaysia, and Indonesia took center stage. Popular with both locals and visitors alike,these products added a vibrant international touch to the fair.
文摘The China-ASEAN Free Trade Area(CAFTA)3.0Upgrade Protocol added a section on“Supply Chain Connectivity,”which emphasizes that all parties recognize the lessons learned from the COVID-19 pandemic and cooperate to enhance the resilience of the regional supply chain.This is an inevitable trend amid the current accelerated restructuring of the global supply chain,the complex and severe international economic and trade situation,and the impact on the regional industrial chain.It also represents a fundamental shift and consensus on the logic of supply chain cooperation between China and ASEAN countries—a transformation from“Efficiency First”to“Resilience First.”
文摘In December 2025,the ASEAN Centre for Energy(ACE)convened the third ASEAN Power Grid Partnership Meeting,bringing partners together for consultations on key issues.After more than two decades of planning and exploration,the ASEAN Power Grid is now entering a new phase—shifting from predominantly bilateral,one-way connections toward a multilateral,multidirectional network.
文摘Since the launch of island-wide special customs operations at Hainan Free Trade Port(Hainan FTP),the proportion of “zero-tariff”imported goods has increased significantly from 21 to 74 percent, and high-quality goods from Southeast Asia can enter Hainan at a more competitive price. If goods contain imported materials and achieve at least 30 percent added value through local processing,they can enter the Chinese mainland market with an exemption from import tariffs, effectively gaining market access across China.
文摘The world economy is now in a period of indepth adjustment.The intensification of geopolitical conflicts,a rise of trade protectionism,and reconfiguration of global supply chains have prompted all countries to re-examine their openness to trade amid rising uncertainties.Against this backdrop,China’s continuing commitment to promoting higherlevel opening up and building the Hainan Free Trade Port(Hainan FTP)has distinct contemporary significance and strategic value.
文摘The dedicated freight channel at the Youyiguan Border Gate in south China’s Guangxi Zhuang Autonomous Region buzzes with activity as trucks loaded with export goods move steadily through customs.Thanks to a system upgraded at the start of 2026,clearance personnel at this China-Vietnam crossing simply place an order online,and the entire process is handled almost instantly via an intelligent platform.Adding to the efficiency,the border gate also features dedicated lanes that support driverless container trucks.
文摘On January 15,the list of Top10 News Stories on ChinaASEAN Cooperation 2025 was officially unveiled at a ceremony in Nanning,capital of southwest China’s Guangxi Zhuang Autonomous Region.The event was supervised by China International Communications Group(CICG),China Foreign Affairs University(CFAU),and the Publicity Department of the Communist Party of China(CPC)Guangxi Zhuang Autonomous Regional Committee and co-hosted by the CICG Center for AsiaPacific,CFAU Institute of Asian Studies,Guangxi University,and Guangxi International Communication Center.
文摘Against a backdrop of rising global trade protectionism and accelerated restructuring of international industrial and supply chains,regional institutional cooperation is becoming a key force in stabilizing cross-border trade and investment.The ASEAN region enjoys strong economic growth momentum with a distinct demographic advantage while China boasts a complete industrial system and manufacturing capacity.
文摘I am honored to share my thoughts on the China–ASEAN Expo(CAEXPO),an event that continues to serve as a vital bridge between China and the ASEAN community—including my country,Thailand.Over the past five consecutive years,I have personally had the privilege of participating in CAEXPO annually.Each year,I witness not only the vibrant energy and growing scale of the event,but also the strengthening bonds between our countries through trade,innovation,and cultural exchange.The expo is more than just a venue for showcasing products;it is a dynamic platform that fosters meaningful partnerships and drives regional cooperation forward.
文摘On April 2,U.S.President Trump slapped“reciprocal tariffs”on over 100 global trading partners,hitting nine ASEAN member states hard.Alarmingly,even the UN-designated Least Developed Countries(LDCs)were not spared.These included Cambodia,where nearly 20 percent of the population lives below the poverty line,facing a 49 percent tariff;Laos,with a poverty rate near 20 percent,facing 48 percent;and Myanmar,which recently suffered a devastating earthquake,facing 44 percent.
文摘Over the past two decades,the China-ASEAN Expo(CAEXPO)has developed into an important platform for China-ASEAN cooperation and helped drive the upgrading of China-ASEAN relations from a strategic partnership to a comprehensive strategic partnership.Efforts from both sides have helped build a closer China-ASEAN community with a shared future.On September 24,2024,the 21st CAEXPO kicked off in Nanning,capital of Guangxi Zhuang Autonomous Region,marking a new start for a shining future of the international event.
文摘On 5 March,2025,the"Spring Blossoms"ASEAN-China Lady Cultural Gathering was held at the White Pagoda Academy in Beijing.The event was co-hosted by the ASEAN-China Centre and the Beijing People's Association for Friendship with Foreign Countries.
文摘This study examines the return connectedness between decentralized finance(DeFi)’s and the Association of Southeast Asian Nations(ASEAN)stock markets using the quantile vector autoregressive framework,which allows us to investigate the connectedness at conditional quantiles.Our sample includes four major DeFi’s and six ASEAN stock markets,spanning from March 2018 to December 2022.The static results indicate a moderate level of return transmission between the system at mean and median quantile.This propagation increases substantially under extreme market conditions,establishing an asymmetric transmission across quantiles.Despite being a relatively new asset class,DeFi dominates the equity market and acts as the primary shock transmitter to the system in most instances.The dynamic analysis reveals that total system connectedness fluctuates over time and quantiles.The total system connectedness peaked during the COVID-19 and the Russia–Ukraine conflict period,indicating the impact of global events on system transmission.The optimal weight and hedge ratio estimated using the DCC-GARCH model indicate that DeFi is beneficial for portfolio construction and risk management.The rising trend in dynamic optimal weight and hedge ratio during the COVID-19 pandemic demonstrates that investors should decrease their investments in DeFi and increase hedging costs.Therefore,portfolio managers and investors should readjust their portfolio allocation in a timely manner according to different market states to build additional effective hedging and diversification strategies to avoid large losses and to reduce portfolio risk exposure.
文摘Based on market integration theory,we investigate the static and dynamic connectedness between nonfungible tokens(NFTs)and the Association of Southeast Asian Nations(ASEAN)equity markets using the Quantile Vector Auto Regressive model.We also compute optimal weights and hedge ratios for our variable of interest to establish their diversification and hedging potential.Our analysis infers a moderate level of return transmission at the median quantile,where equity markets evolved as the net recipients of return spillover from the system,while NFTs emerge as key transmitters.In extreme market conditions,transmission between variables is amplified,but the increase is symmetrical across extreme quantiles,suggesting a similar impact.However,the interlinkage among assets is symmetric across conditional quantiles.The dynamic analysis demonstrates that the system integration amplifies during uncertain times(e.g.,COVID-19 and the Russia–Ukraine conflict).Our portfolio analysis shows that NFTs provide diversification and hedging in all market conditions.However,the period of turmoil dampened the diversification potential,and hedging became expensive.Our study offers detailed and insightful information about the transmission mechanism and enables the participants of financial markets to diversify and hedge their portfolio.
文摘The“return to the Asia-Pacific”policy and the“Asia-Pacific rebalancing”policy during the Obama period marked the germination of the Indo-Pacific strategy of the United States,and since then,the Indo-Pacific strategy has been continuously strengthened by the two administrations of Trump and Biden(Ling,2023).In order to stop China from rising,the United States has been trying to draw the ten ASEAN countries which are geographically close to China to American side.However,due to the different national conditions and the different needs of the ten countries,it is difficult for the United States to keep ASEAN’s attitude towards China consistent under the frame of Indo-Pacific strategy.Therefore,this paper will analyze the different attitudes of the ten countries towards China respectively,so as to help China formulate better policies and find better ways to cope with America’s containment of China’s rise and maintain regional and world peace.
文摘In Chinese tradition,the term“耄耋”(Mào Dié)refers to those in their nineties,a stage of life associated with wisdom and longevity.As the Bank of China Singapore Branch(BOCSG)approaches its 90th anniversary,this expression captures the spirit of an institution that has stood the test of time.Since its establishment in Singapore in 1936,the BOCSG has maintained a strong and enduring presence not only in Singapore but across Southeast Asia,serving as a bridge between China and Singapore,and more broadly,between China and the ASEAN region.Its continued growth has been underpinned by the mutual prosperity of both economies and the strength of their longstanding and harmonious ties.
文摘ASEAN-China Centre(ACC)is an inter-governmental organization co-founded by 10 ASEAN Member States(AMS)and China.ACC was officially launched at the Commemorative Summit marking the 20th anniversary of ASEAN-China dialogue relations on 18 November 2011.ACC Secretariat is located in Beijing.The current Secretary-General is H.E.Mr.Shi Zhongjun.The establishment of ACC reflects the fruitful development of ASEAN-China relations and the strategic vision of the leaders of both sides.As a one-stop information and activities centre,ACC is committed to promoting friendly exchanges and practical cooperation between ASEAN and China in various fields including trade,investment,education,culture,tourism,and information and media.
