2023 ASEAN-China Greater Bay Area Economic Cooperation (Qianhai) Forum Held in Qianhai, Shenzhen

The 2023 ASEAN-China Greater Bay Area Economic Cooperation (Qianhai) Forum was held in Qianhai, Shenzhen from July 29 to 30. More than 500 political and business representatives from ASEAN countries and the Guangdong-Hong Kong-Macao Greater Bay Area attended the opening ceremony and related events. Six enterprises under the chambers of commerce from the Greater Bay Area reached investment and cooperation agreements with ASEAN, with the intended investment signed amounting to 3.5 billion yuan, bringing about a bilateral trade volume of 7 billion yuan.

China and ASEAN are already each other's largest trading partners. On November 22, 2021, the establishment of a comprehensive strategic partnership between China and ASEAN was officially announced to build a closer China-ASEAN community with a shared future.

At the opening ceremony of the Forum, the Greater Bay Area-ASEAN Association of Chambers of Commerce and the ASEAN-China Think Tank Cooperation Partnership were established, and the ASEAN-Greater Bay Area Economic Cooperation Initiative was announced. The Initiative proposed to establish a dialogue platform for economic cooperation, strengthen industrial and investment cooperation, promote cooperation in scientific and technological innovation and transformation of technological achievements, strengthen exchange and cooperation between the business associations in the region, and encourage talent and cultural exchanges between the Greater Bay Area and ASEAN.

Shi Zhongjun, Secretary-General of ASEAN-China Centre, said in his welcome remark that government officials, business associations, think tanks, and enterprise representatives from China and ASEAN member states had gathered in Qianhai and would have in-depth exchanges and discussions in a number of forums and industry matching activities in two days so as to offer advice and suggestions on promoting the cooperation and development between the Greater Bay Area and ASEAN countries in the fields of finance, e-commerce, digital economy, science and technological innovation, etc.

Wang Shourui, Vice Mayor of Shenzhen Municipal People's Government, said that this Forum would help build a broader and more efficient platform for economic cooperation and exchanges between ASEAN and the Greater Bay Area and further strengthen dialogues and cooperation in fields such as scientific and technological innovation, economic and trade investment, etc. Shenzhen would fully play its role as the important link between China and ASEAN, seize the opportunity brought by the Regional Comprehensive Economic Partnership (RCEP), deepen the comprehensive cooperation with ASEAN countries in business, trade, finance, smart city, new energy vehicles, and other areas, and promote economic and trade cooperation and people-to-people connectivity between the Greater Bay Area and ASEAN so as to jointly build and share a prosperous home.

Ambassadors and government representatives from Malaysia, Thailand, Brunei, Indonesia, Myanmar, and the Philippines delivered keynote speeches. Speeches by the representatives from the Associated Chinese Chambers of Commerce and Industry of Malaysia, Philippine Association for Chinese Studies, and GRC Indonesia Construction Materials Group affirmed that Qianhai, where the Forum was held, would provide a broad market and unlimited opportunities for enterprises. They all looked forward to coming to the Greater Bay Area and Qianhai to invest, develop, and win a better future together.

Qianhai will make full use of the opportunities brought by organizing this Forum, spare no efforts to build a gateway hub for opening up to the world, actively build platforms for economic cooperation and dialogues, deepen industrial and investment cooperation, promote the transformation of technological achievements, and contribute to the economic and trade cooperation and people-to-people connectivity between the Greater Bay Area and ASEAN.

Source: The 2023 ASEAN-China Greater Bay Area Economic Cooperation (Qianhai) Forum