Innovation helps nation spur growth

Over the past decades, China has delivered 30 percent of global economic growth on the back of its deployment of innovation at speed and scale. A key result is that China's stable prices and efficient supply chains have helped to mitigate global inflationary pressures amid elevated inflation in major advanced economies.

China's gross domestic product grew 5 percent in the first quarter of this year, beating expectations and displaying robust growth in exports and imports.

Factory activity remained resilient, with the official manufacturing purchasing managers' index standing at 50.3 in April, slightly easing from 50.4 in March but still holding above the 50-point expansion threshold. High-tech and equipment manufacturing continued to outperform, with PMI readings of 52.2 and 51.8 respectively, highlighting the ongoing structural transformation toward new growth drivers.

China's economic resilience rests firmly on its deep cooperation with Asian partners to create new opportunities for the region.

Despite external pressures, trade volumes paint a powerful picture of this integrated strength. In 2025, China's total goods import and export value reached a record high of $6.35 trillion. Driving this was its relationship with the Association of Southeast Asian Nations, which has remained China's largest trading partner. Trade between China and ASEAN reached 7.55 trillion yuan ($1.05 trillion) last year, surging 8 percent year-on-year. This growth is being formalized through agreements such as the China-ASEAN Free Trade Area 3.0 Upgrade Protocol.

In January and February this year, the total trade value between China and ASEAN reached 1.24 trillion yuan, growing 20.3 percent year-on-year. This robust growth was driven primarily by an increase in Chinese exports to ASEAN.

This strong momentum was sustained throughout the first quarter. From January to March, bilateral trade expanded to 1.97 trillion yuan, a year-on-year increase of 15.4 percent and representing 16.6 percent of China's total foreign trade. The key top trading partners among ASEAN members in the first quarter were Vietnam, Malaysia and Indonesia.

Record GDP and export growth in Malaysia and successful initiatives such as the China-Indonesia implementation of QR cross-border payments, and connectivity enhancement with Vietnam, Thailand, Laos and Cambodia, are, in large part, due to the stability of China-ASEAN relations.

Health diplomacy, energy integration, the digital economy, institutional partnerships and climate finance initiatives are transforming the region.

Regional Comprehensive Economic Partnership Industry Cooperation Committee Chairperson Xu Ningning has projected that total China-ASEAN bilateral trade for 2026 is expected to surpass 8 trillion yuan, representing a year-on-year growth of 5 percent to 8 percent. The steady growth in early 2026 underscores the deepening trade ties and high complementarity between China and RCEP countries.

China's resilience as the world's largest oil importer has been tested, and validated, by the spillover from Middle East conflicts.

In 2025, about 42.3 percent of China's crude oil imports were from the Middle East. However, China's deep strategic ties with Central Asian and Russian partners have created a crucial buffer. By increasing overland pipeline imports, tapping into massive State oil stockpiles, and prioritizing domestic supply over exports, China has successfully absorbed the external shock, proving that its regional cooperation is a genuine pillar of energy and supply chain security.

Moreover, on May 1, new opening-up policies such as zero tariffs on goods from African countries that have diplomatic ties with China and a loosening of export limits on refined oil products such as jet fuel came into force.

Other examples of China's stabilizing role include growing investment inflows from the Persian Gulf states. Reports also indicate the Hong Kong Special Administrative Region's increasing attraction for international capital seeking market stability and sound institutional arrangements. Growth in the European Union's bilateral trade with China also continued to expand. China's deep, institutionalized cooperation with its Asian neighbors has also created new opportunities, achieving a strong first quarter in 2026 with early data pointing to sustained momentum for China and the region.

Amid global turbulence and uncertainty, China has maintained strong diplomatic influence, consistent with its high ranking in the Lowy Institute's global diplomacy index. China's ability to withstand trade frictions and geopolitical conflicts is a direct result of a deliberate strategy to forge deep and mutually beneficial supply chains with Asian partners.

This economic architecture transforms regional cooperation from a simple trade zone into a powerful platform for shared growth and collective stability.

As the world transitions toward multipolarity, China has continued opening its economy, ensured a stable currency and financial markets, and green investments in global infrastructure. As such, China is signaling to its global trade partners that local, regional and global economic development can best be delivered through deep cooperation and discussion, not extra-regional political coercion or economic and military threats.

The author is the chair of the Belt and Road Capital Partners (BRCP)Geopolitical Risk Advisors, and a visiting professor at ICES — Institut Catholique de Vendee in France.

The views do not necessarily reflect those of China Daily.