BEIJING, April 11 (Xinhua) -- The 21st Century Maritime Silk Road Initiative and the Regional Comprehensive Economic Partnership (RCEP) have helped advance China-ASEAN economic and trade cooperation, and are expected to drive regional economic integration to a higher level, according to a report released Friday by Xinhua Institute, a think tank affiliated with Xinhua News Agency.

Over the years, China and ASEAN have established a multi-level, multi-platform, and multi-stakeholder communication framework guided by head-of-state diplomacy, according to the report titled "RCEP and the Vision of the Maritime Silk Road: New Frontiers for China-ASEAN Cooperation."

These mechanisms have provided effective and pragmatic channels for regional policy coordination, ensuring strong alignment in development strategies, economic and technical policies, management rules, and regulatory standards, said the report.

Building on existing achievements, China and ASEAN can further deepen regularized policy communication mechanisms, promote policy alignment, explore innovative cooperation models, and advance multilateral collaboration, the report said.

Efforts can focus on enhancing mutual recognition of regional rules and standards, expanding trade and investment facilitation measures, building and improving a secure investment protection system, deepening high-quality digital cooperation, and further optimizing rules of origin to open up new spaces for China-ASEAN cooperation, said the report.

As economic ties deepen, the two sides have gradually formed a mutually beneficial "regional cycle" in which ASEAN exports primary products to China, imports capital-intensive machinery and technology-driven intermediate goods, and re-exports labor-intensive consumer products to China and other global markets, according to the report.

With their geographic proximity and strong economic complementarity, the two sides share a solid foundation for further deepening industrial cooperation, the report said, adding that, in the face of rising global economic uncertainties, they can accelerate regional production and supply chain integration by adopting diversified cooperation models.

Long constrained by poor transport infrastructure, ASEAN now sees development in this area as key to enhancing connectivity and fostering regional economic hubs, according to the report.

While embracing the opportunities, it is also essential to acknowledge the risks and challenges facing China-ASEAN cooperation, said the report.

Of particular concern is the behavior of certain countries moving against the tide of globalization, abusing tariff measures and erecting excessive trade barriers. These actions have severely undermined the stability of the global trading system and dealt a significant blow to global economic confidence, said the report.

At such pivotal moments, it is all the more important for China and ASEAN to stay historically grounded, strengthen unity, and pursue mutual benefit, the report said.

They will uphold the principles of openness and inclusiveness in global governance, adhere to the spirit of genuine multilateralism featuring extensive consultation, joint contribution and shared benefits, and promote an economic globalization that is both inclusive and beneficial to all, said the report. Enditem

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