Business links with APEC economies to deepen further

China's business links with other Asia-Pacific Economic Cooperation member economies will continue to deepen and remain highly complementary, enabling the region to sustain growth amid an increasingly fragmented global economy, government officials and corporate executives said.

Lyu Daliang, director of the General Administration of Customs' department of statistics and analysis, said as the Asia-Pacific region contends with rising geopolitical frictions, unilateral trade actions and a resurgence of protectionism, building consensus and deepening collaboration across key sectors will be essential to maintaining growth and addressing shared economic challenges.

China's trade with other APEC economies grew 2 percent year-on-year to 19.41 trillion yuan ($2.73 trillion) in the first three quarters of 2025, accounting for 57.8 percent of the country's total foreign trade value, data from the administration showed.

In the meantime, China's high-tech imports and exports with other APEC economies each exceeded 2 trillion yuan, rising 7.9 percent and 12 percent on a yearly basis, respectively, with such trade representing more than 60 percent of China's total imports and exports in the same category of products.

Building on efforts to consolidate the Regional Comprehensive Economic Partnership's role in regional economic integration, China and the Association of Southeast Asian Nations signed the China-ASEAN Free Trade Area 3.0 Upgrade Protocol in Kuala Lumpur, Malaysia, on Tuesday.

With the protocol signed, both sides will now carry out their respective domestic approval procedures to ensure the protocol enters into force and is implemented as soon as possible, according to China's Ministry of Commerce.

"These moves will inject fresh momentum into the growth of the APEC region by expanding market access and promoting more efficient trade flows," said Chen Jianwei, a researcher at the University of International Business and Economics' Academy of China Open Economy Studies.

Mai Van Chinh, deputy prime minister of Vietnam, said that amid rising economic headwinds and increasing trade barriers, jointly building and reinforcing mutual trust in cooperation has become more important than ever.

He said that China and ASEAN members should further open their markets to foster a more dynamic environment for trade among countries, strengthen strategic alignment and improve cross-border infrastructure connectivity.

Similar views were shared by Pov Somnang, special assistant to the ASEAN secretary-general.

"Economic ties between China and ASEAN are expected to not only expand in scale but also improve in quality," he said, adding that advanced free trade deals will widen market access for services and harmonize rules on intellectual property, environmental standards and digital trade, creating a more stable and open business environment in the Asia-Pacific region.

After its exports to other APEC economies reached 110 million yuan between January and September — far exceeding the total for 2024 — Changchun Hexin Machinery Manufacturing, a manufacturer of automated assembly production lines for automotive components, including seats and clutches, based in Changchun, Jilin province, said it planned to establish more service centers across the Asia-Pacific in the years ahead, according to Changchun Customs.

"At present, our overseas markets are mainly focused on APEC economies such as Mexico and Canada, and our export volume is steadily increasing," said Chen Henan, the company's vice-president for operations.

Wu Zongjian, vice-president of Fujian Tide Power Technology, a power generation equipment manufacturer in Fuzhou, Fujian province, said his company's exports of diesel generators have grown strongly in several APEC markets to date this year, thanks to product customization and timely after-sales services.

"With ongoing economic development and increased investment in upgrading people's livelihood infrastructure in other APEC economies like Vietnam, Chile and Peru, demand for power generation equipment is expected to maintain robust growth in the coming years," said Wu.

Fujian Tide Power Technology's exports to other APEC economies exceeded 200 million yuan in the first nine months, up 30 percent on a yearly basis, said Fuzhou Customs.

The deepening economic integration across the Asia-Pacific region has also encouraged multinational companies to expand manufacturing operations in China, underpinned by confidence in the market's long-term potential and consumer resilience.

Nathaniel Madarang, president for the Asia-Pacific region at the Goodyear Tire & Rubber, a United States-based tire manufacturer, said that stable and healthy business relations within the APEC framework are essential for driving economic growth, innovation and job creation across the region.

As China's auto industry is being reshaped by technology and changing consumer demand, Madarang said the country will see strong growth in the electric vehicle, sport utility vehicle and luxury car segments.

He said that to stay competitive, Goodyear introduced its latest SUV tire products in China and other Asia-Pacific markets earlier this year, and will keep investing in innovation to meet the region's changing mobility needs.