China, ASEAN to strengthen ties in emerging industries

China launched an initiative dubbed the “Emerging Industries Cooperation Initiative (Shenzhen Initiative)” at the ongoing China-ASEAN Forum on Emerging Industries on Monday.

The initiative aims to build a more equitable, inclusive and constructive partnership in the supply chain and foster mutually beneficial cooperation between China and the Association of Southeast Asian Nations (ASEAN) in emerging industries.

The Shenzhen Initiative outlines three key aspects of cooperation, covering building a regional innovation ecosystem, fostering cooperation in emerging industries, and exploring the establishment of a China-ASEAN ministerial dialogue mechanism in the industrial sector.

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The initiative calls for collaboration between government agencies, companies, universities, chambers of commerce and associations.

It proposes that countries explore cooperation in the digital economy, new energy vehicles (NEVs), energy-related electronics, and other emerging industries. These areas include the development of digital platforms, the promotion of the clean energy transition and the construction of industrial parks for cooperation in emerging industries.

The initiative aims to build a more equitable, inclusive and constructive partnership in the supply chain and foster mutually beneficial cooperation between China and the Association of Southeast Asian Nations (ASEAN) in emerging industries.

The initiative also encourages the industrial, academic and research communities in ASEAN member states to join the New Industrial Revolution Partnership Network under the Global Development Initiative.

Chinese Minister of Industry and Information Technology Jin Zhuanglong told the forum that China is willing to launch cooperation plans focused on emerging industries such as NEV, digital economy and energy-related electronics, and build a collaborative development model for emerging industries with China-ASEAN characteristics.

Article republished from the Chinese state media CGTN within the framework of an agreement between both parties to share content. Link to the original article: https://news.cgtn.com/news/2023-07-05/China-ASEAN-to-enhance-ties-in-emerging-industries-1lbPMsu0n7i/index.html

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