C) Economic Affairs

and information sharing on water resources in the Lancang-Mekong Basin.

December 8 The US imposes an arms embargo on Cambodia due to Cambodia’s connections with China and human rights abuses.

December 10-13 The 112th Mekong River joint patrol kicks off by China, Laos, Myanmar, and Thailand. 107 law enforcements and 6 vessels participate in the patrol. It marks the 10th anniversary of the joint operation since December 10, 2011. Over the past 10 years, law enforcement departments of the four countries have carried out over 180 joint missions, stopped 36,173 drug-related crimes, seized 136.93 metric tons of drugs, and cracked down upon 66 human trafficking cases. They have rescued 130 commercial vessels and 536 crew members.

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July 13 The United Nations Conference on Trade and Development (UNCTAD) reports on June 30 that tourism loss of the global economy will reach more than US$4 trillion by the end of this year due to the pandemic.

The first Lancang-Mekong Fruit Festival is held in Beijing to promote high-quality fruits from member countries of the Lancang-Mekong Cooperation (LMC) toboost fruit trade.

China plans to increase the foreign trade volume from US$4.65 trillion in 2020 to US$5.1 trillion by 2025, according to the 14th Five-Year (2021-2025) Business Development Plan.

China’s General Administration of Customs (GAC) reports that China’s trade volume grew 27.1 percent year on year to reach about US$2.79 trillion in the first half of this year. Exports increased 28.1 percent year on year, while imports were up 25.9 percent. Trade with ASEAN rose 27.8 percent year on year.

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July 23

July 28 The World Bank decreases the growth forecast for Thailand from 3.4 percent in March to 2.2 percent for this year due to the pandemic. China will grow 8.5 percent in 2021. Growth in East Asia and the Pacific will expand by 7.7 percent.

The China-ASEAN Digital Economy Development and Cooperation Forum is held in Wuhan, Hubei Province. Both sides sign cooperation agreements for 20 projects, including digital economy, investment, technical cooperation, and financial services, worth US$4.11 billion.

(1)The Asian Development Outlook (ADO) of the Asian Development Bank (ADB) revises its growth forecast from 7.3 percent to 7.2 percent for this year. China’s growth forecast remains at 8.1 percent in 2021 and 5.5 percent in 2022. The ADB revises the growth forecast for Thailand from 3 percent to 2 percent.

(2)China's Chongqing reportsthat its foreign trade increased 37.6 percent year on year in the first half of this year, about US$58 billion. Exports surged 37.7 percent year on year, while imports were up 37.5 percent. Trade with ASEAN increased by 24.5 percent.

China's 21 free trade zones have received US$15.6 billion in overseas investment in the first half of this year, according to the Ministry of Commerce. Overseas investment from ASEAN increased 50.7 percent.

Lao Foreign Minister Saleumxay Kommasith visits the Thanaleng Dry Port and Vientiane Logistics Park as the project prepares for a soft opening in August. The Port and Park will link with the China-Laos Railway.

Thailand’s transit trade with China rose 86.56 percent year on year in June, according to the Ministry of Commerce. Border and transit trade surged 41.68 percent year on year in June.

August 5 Thailand’s fresh fruit exports were worth US$2.896 billion in the first half of this year, an increase of 42.21 percent year on year, according to the Ministry of Commerce. Fresh fruit exports included durian, longan, mango, banana, pineapple, citrus, and lychee. The biggest export market was China, accounting for more than 83 percent of all fresh fruit exports, followed by Hong Kong, Vietnam, Malaysia, and South Korea. Thailand exported fresh fruits to China, including Guangdong Province, Guangxi Zhuang Autonomous Region, and Chongqing Municipality of Sichuan Province, reaching US$2.43 billion in the first half of this year, an increase of 71.11 percent year on year.

August 7 China's foreign trade increased 24.5 percent year on year in the first 7 months of this year, according to the GAC. Trade with ASEAN grew 24.6 percent year on year in the January-July period.

August 12 China has banned Thai longan due to the contamination with mealybugs starting from August 13, according to Thailand’s Department of International Trade Promotion.

August 13 China remains the largest foreign investor in Laos, according to Lao Deputy Prime Minister and Minister of Planning and Investment Sonexay Siphandone. China invests a total of 813 projects worth over US$16 billion.

August 17 China resumes Thai longan exports, according to Thailand’s Commerce Ministry.

August 19 The Nanjing Customs reports that Jiangsu Province’s foreign trade grew 17.4 percent year on year to US$435 billion in the first 7 months of 2021. Exports increased 19.3 percent year on year, while imports were up 14.4 percent. Trade with ASEAN increased 21.5 percent.

August24 The Lao government approves December 2 as the launch date for the official opening of the China-Laos Railway. Moreover, Phongsalyprovincial authorities

approve a Chinese business group to survey a feasibility study on the development of a new Triangle Special Economic Zone (SEZ).

August 26 Laos is selected as the Country of Honor for the upcoming 18th China-ASEAN Expo (CAEXPO). It marks the third time for Laos after its selection in 2009 and 2020.

September 1-2 The 6th Belt and Road Summit is held online. Thailand proposes to become a hub connecting ASEAN countries with China and Hong Kong, according to Thai Vice Commerce Minister Dr. Sansern Samapala. The Eastern Economic Corridor (EEC) supports the BRI and the Greater Bay Area (GBA).

September2 China’s National Development and Reform Commission (NDRC) reveals at a press conference that the country aims to finish the New International Land-Sea Trade Corridor by 2025 to facilitate trade with ASEAN and BRI countries. The plan includes major road,railway, and port projects.

September 3 The foreign trade of Ningxia Hui Autonomous Region, China increased 30.5 percent year on year in the first 7 months of 2021. Trade with BRI countries was up 46.1 percent year on year. Thailand and Vietnam were major trading partners of Ningxia.

September 7 China UnionPay announces to put the QR code payment into the mobile banking and e-wallet of Thailand's Bangkok Bank to further facilitate digital payment for card owners of Bangkok Bank.

September 8-9 The 6th China-ASEAN Summit for Drug Development and Cooperation co-hosted by China’s National Medical Products Administration and the government of Guangxi Zhuang Autonomous Region is held in Fangchenggang City. The Summit reveals that China’s trade volume of medical products with ASEAN reached US$13.3 billion in the first 7 months of this year, an increase of 32 percent year on year.

September 9 The commemorative activity for the 60th anniversary of the establishment of diplomatic relations between China and Laos and the 2021 China-Laos Economic and Trade Cooperation Forum kicks off online and offline in Nanning, Guangxi Zhuang Autonomous Region. Laotian Minister of Industry and Commerce Khampheng Xaysampheng and Chinese Vice Minister of Commerce Ren Hongbin attend the activity. Lao officials discuss with company representatives of China Southern Power Grid, China Datang Corporation, ChinaASEAN Information Harbor Company, China State Construction Engineering Corporation, and China Railway International Company to exchange views on investment policies and intention, and promote projects in infrastructure, electricity, and digital economy.

September 10 China-ASEAN trade increased from US$8.36 billion in 1991 to US$685.28 billion in 2020, an average annual growth rate of 16.5 percent, according to the GAC. ASEAN became China’s largest trading partner in 2020, while China has been ASEAN’s largest trading partner for 12 consecutive years.

September 10-13 The 18th China-ASEAN Expo and China-ASEAN Business and Investment Summit kick off in Nanning, Guangxi Zhuang Autonomous Region. The Expo is held online and offline. It aims to explore cooperation in the digital economy, epidemic, and trade and investment. President Xi Jinping sends a congratulatory letter to the event. China is willing to work with ASEAN to deepen cooperation in fighting the pandemic, economy, and trade, promote the RCEP and the BRI, and maintain regional prosperity and development. Vice President Wang Qishan addresses the opening ceremony. He says that China will prioritize the neighborhood diplomacy with ASEAN, import more high-quality products from ASEAN, expand mutual investment, and deepen industrial supply chain cooperation. The Expo hosts 26 high-level forums and 148 economic and trade promotion activities. Enterprises from more than 40 countries and regions participate in the Expo. The Expo concludes with 179 international and domestic

deals worth US$46.59 billion, an increase of 13.7 percent year on year. The deal value was the highest on record forthe Expo. The Expo releases the ChinaASEAN Trade Index for the first time. The index stood at 241.09 points in 2020, an increase of 19 percent from 2019.

September 13 Chinese Minister of Commerce Wang Wentao attends the 20th China-ASEAN Trade Ministers’ Meeting and the 24th ASEAN Plus Three Ministers’ Meeting via a videoconference to exchange views on regional economic and trade issues. He calls on participants to oppose political manipulation, jointly fight against the pandemic, and accelerate regional economic recovery. Participants agree to promote the RCEP, uphold the multilateral trading system, support the World Trade Organization (WTO), restore the dispute settlement mechanism, support the development of small, medium, and microenterprises, and deepen cooperation in finance, information technologies, and supply chains.

September 14 The 5th ASEAN-Hong Kong Economic Ministers’ Meeting is held via a videoconference to expand bilateral trade under free trade and investment agreements. Participants agree to add 5 branches, including (1) sanitary and phytosanitary measures, (2) standards, technical regulations, and conformance assessment processes, (3) intellectual property, (4) digital technology for trade facilitation, and (5) investment promotion, to the ASEAN-Hong Kong, China Free Trade Area (AHKFTA) Agreement and the ASEAN-Hong Kong Investment Agreement (AHKIA).

September 22 The ADB retains the GDP growthforecastfor China at 8.1 percent this year. The GDP growth forecast for developing Asia is decreased from 7.3 percent in April to 7.1 percent for 2021. Thailand's GDP growth forecast is decreased from 3 percent in April to 0.8 percent. Lao's economy is projected to grow by 2.3 percent in 2021, a decrease from 4 percent in the April forecast.

September 24 The People’s Bank of China vows to crack down on illegal activities of cryptocurrency trading and bans all cryptocurrency transactions.

September 27 The World Bank forecasts that China's economy will expand 8.5 percent this year, an increase of 0.4 percent points from the April forecast. It decreases Thailand's growth forecast from 2.2 percent to 1 percent.

September 28 Laos holds a ceremony to start the full power generation of all 7 plants of the Nam Ou River Cascade Hydropower Project developed by the Power Construction Corporation of China (PowerChina).

October 1 The Tourism Authority of Thailand (TAT) announces that fully vaccinated travelers from any country can visit Phuket and other provinces in the Sandbox scheme.

October 6 The Vientiane Station of the China-Laos Railway makes its debut. It is built by China Railway Construction Group Company Limited.

October 8 US Trade Representative Katherine Tai holds talks with Chinese Vice Premier Liu He to discuss Chinese commercial practices and US concerns.

October 11 Guangxi’s border trade with Vietnam surged by 92.2 percent year on year to US$4.49 billion in the first 8 months of this year, according to the Department of Commerce of Guangxi Zhuang Autonomous Region.

October 12 The International Monetary Fund (IMF)’s World Economic Outlook reports that the world economy will grow at 5.9 percent this year. China’s economy is forecast to grow 8 percent in 2021.

October 15 Changsha Customs reports that foreign trade of China’s Hunan Province increased 28.4 percent year on year in the first 9 months of this year. Exports were up 34.9 percent, while imports rose 16 percent. Trade with BRI countries grew 19.8 percent. ASEAN

remains the largest trading partner of Hunan. Trade with ASEAN increased 19.3 percent year on year.

October 16 Chinese bullet trains for the China-Laos Railway make debut in Vientiane, Laos. The trains are manufactured by CRRC Qingdao Sifang and CRRC Dalian, subsidiaries of China Railway Rolling Stock Corporation.

October 18 China’s GDP grew by 9.8 percent year on year in the first 9 months, according to the National Bureau of Statistics (NBS). The country’s GDP grew 4.9 percent year on year in the third quarter, slower than the first and second quarters due to the unstable and uneven domestic economic recovery.

October 19 (1)Nanjing Customs reports that the foreign trade of China’s Jiangsu Province rose by 16.5 percent year on year to about US$580 billion in the first 9 months this year. Exports increased 18.2 percent year on year, while imports were up 14 percent. The trade with ASEAN increased 17 percent year on year.

(2)The IMF forecasts that China’s economy will grow by 8 percent in 2021, a decrease of 0.4 percent from the April projection. The Asia growth forecast is revised down to 6.5 percent due to the resurgence of the pandemic and low vaccination rates.

(3)Zhao Qian, head of the China Business Association Ho Chi Minh City Branch, reveals that Chinese companies in Ho Chi Minh City, Vietnam are facing logistical disruptions and labor shortages. Only 10 percent of Chinese plants in the city can maintain operations.

October 20 (1)Kunming Customs reports that the foreign trade of Yunnan Province reached about US$34.85 billion in the first 9 months, an increase of 37.7 percent year on year. Exports increased 52.4 percent year on year, while imports grew 24.4 percent. The trade with ASEAN, the largest trade partner, grew 16.7 percent year on year.

(2)The China-Laos Railway starts its first dynamic testing train departing from the Vientiane Station to Boten. The testing is undertaken by the China Academy of Railway Sciences Corporation Limited. The testing duration is 18 days.

October 21 Guangxi Zhuang Autonomous Region managed 235 China-Vietnam freight train trips in the first 9 months of this year, anincrease of 117 percent year on year, according to the China Railway Nanning Group Company Limited.

October 26 Thailand’s exports rose 17.1 percent year on year in September, according to the Ministry of Commerce. Exports to China increased 23.3 percent year on year.

November 1 Thai Commerce Minister Jurin Laksanawisit meets with Chinese Ambassador Han Zhiqiang to discuss the expansion of bilateral trade and investment, the RCEP, the China-Thailand high-speed railway, and the Thai-Chinese Joint Trade Committee meeting. The Thai side asks China to reopen checkpoints in Mohan and Guan Lei to transport fruits.

November 3 (1)The ASEAN Secretariat has received instruments of the RCEP ratification from 6 member countries, including Brunei, Cambodia, Laos, Singapore, Thailand, and Vietnam, and 4 non-ASEAN countries, including Australia, China, Japan, and New Zealand. The Secretariat announces that the pact will enter into force on January 1, 2022.

(2)The ASEAN Foundation and Huawei sign an MoU on joint efforts to bridge the digital talent gap at an online event of the Asia Pacific Innovation Day— Digital Talent Summit 2021.

November 5-10 The 4th China International Import Expo (CIIE) is held in Shanghai. On November 4, President Xi Jinping attends and delivers a speech at the opening ceremony via a videoconference. He stresses that China will safeguard multilateralism, share market opportunities with the rest of the world, promote

high-standard opening-up, and uphold common interests of the world.

November 6 (1)China has completed all preparations for fully implementing the RCEP, according to the Ministry of Commerce.

(2)Vietnam inaugurates the China-builtCat Linh-Ha Dong metro line project in Hanoi. The project started construction in October 2011. The elevated line is more than 13 kilometers with 12 stations.

November 7 China’s foreign trade increased 31.9 percent year on year to US$4.89 trillion in the first 10 months of this year, according to the GAC. Exports were up 32.3 percent year on year, while imports grew 31.4 percent. Trade with ASEAN rose 30 percent.

November 10 Thailand’s PTT Public Company Limited signs an agreement with China’s Hozon, an electric vehicle (EV) startup, to expand Thailand’s EV market.

November 12 All 10 stations of the China-Laos railway in Laos conclude their debut shows, according to the LaosChina Railway Company Limited (LCRC).

November 16 (1)Premier Li Keqiang attends the World Economic Forum Special Virtual Dialogue with Global Business Leaders. China is willing to work with all parties to fight against the pandemic, boost economic recovery, and keep the industrial and supply chains stable. China will expand the opening-up, promote international cooperation and improve trade and investment liberalization and facilitation.

(2)The Guangdong Customs reports that the foreign trade of the Province with ASEAN increased 15.6 percent year on year to US$157 billion from January to October.

November 19 Representatives from Thailand, Laos, and China hold a videoconference to discuss the construction of a dual-track railway link between the three countries. The meeting agrees to set up 2 working groups for business and technical issues. Thailand and Laos

discuss the construction of a new railway bridge from Nong Khai Province, Thailand to Vientiane, Laos.

November 22 China’s Ministry of Commerce announces that the China-Cambodia Free Trade Agreement (FTA) will officially take effect on January 1, 2022. The FTA was signed on October 12, 2020. China will provide tarifffree status to 97.53 percent of imports from Cambodia. Cambodia will exempt tariffs on 90 percent of Chinese imports.

November 23 (1)Hunan’s trade with BRI countries increased by 19.8 percent in the first 10 months of this year, according to China’s Changsha Customs. Exports rose 17.3 percent, while imports grew 29 percent. The 3 main trade partners in the region are Vietnam, Malaysia, and Thailand.

(2)Thai Director-General of Department of Trade Negotiations Auramon Supthaweethum reveals that Thailand will eliminate import tariffs on more than 29,000 imports from RCEP members once the RCEP takes into effect. China will exempt tariffs on 67.3 percent of all imports from RCEP members.

(3)Cambodian Prime Minister Hun Sen and Chinese Ambassador Wang Wentian attend a ceremony marking the inauguration of the Stueng Trang-Kroch Chhmar Cambodia-China Friendship Bridge connecting Kampong Cham and Tboung Khmum Provinces of Cambodia and the groundbreaking of National Road No. 71C. The bridge was developed by the Shanghai Construction Group under a concessional loan from the Chinese government.

November 24 (1)China’s GAC has registered 93 Thai rice mills, according to Thai Director-General of Department of Agriculture Pichet Wiriyaphaha. Thailand exported 430,000 tons of rice to China during the JanuaryOctober period.

(2)Thailand's Eastern Economic Corridor (EEC) Office and Industrial and Commercial Bank of China Limited (ICBC) in Thailand sign an MoU on a

feasibility study on the establishment of the EEC Equity Fund to build investment opportunities for new industrial projects. Both sides want to promote new targeted industries in the EEC area, including the medical and healthcare industry, the digital technology industry, the decarbonization industries, and the transport and logistics industry.

November 25 Thai Prime Minister Prayut Chan-o-cha meets with Ren Zhengfei, the founder and chief executive officer of Huawei Technologies Company, via a videoconference to promote collaboration on the use of 5G plus AI eco-innovation, digital transformation, and talent development.

November 26 Myanmar reopens the Kyin San Kywat border gate in Muse and the Chinshwehhaw in Shan State for commerce after almost 7 months of the suspension due to the pandemic.

November 30 China’s National Railway Administration (NRA) and Laos’ Ministry of Public Works and Transport sign the first inter-governmental agreement on railway cooperation for the China-Laos Railway to create a framework for cross-border transportation.

December 1 The Lao government awards the First-class Development Medal to the China State Railway Group and the First-class Labour Medal to the LaosChina Railway Company Limited (LCRC) for building the China-Laos Railway.

December 3 President Xi Jinping and Lao President Thongloun Sisoulith inaugurate the China-Laos railway via a videoconference. Both sides exchange congratulations and stress that they are willing to make joint efforts to ensure the operation and maintenance of the railway, promote comprehensive development, and strive to expand economic and social effects.

The 1,035-kilometer railway (422 kilometers in Laos) takes about 10 hours from Kunming, Yunnan Province, China to Vientiane, Laos with a maximum speed of 160 kilometers per hour. There are 11

stations in China and 10 stations in Laos. The Chinese and Lao governments signed intergovernmental railway cooperation in 2015. The project started in December 2016 and was built with the full application of Chinese management and technical standards. The railway was built by the China Railway Construction Group Company Limited.

The first train of the China-Laos Railway loads potash products manufactured by Sino-Agri International Potash Company, a China-Laos joint venture company, and departs from Vientiane to China.

December 4 The first China-Laos Railway international freight train loaded with dicalcium phosphate from Kunming, Yunnan Province arrives in Vientiane, Laos.

December 6 Cambodia inaugurates National Road No.11, linking Prey Veng and Tboung Khmum Provinces. The road was built by China Road and Bridge Corporation (CRBC) under a concessional loan from the Chinese government.

December 7 (1)China’s foreign trade reached US$5.47 trillion in the first 11 months, an increase of 31.3 percent year on year, according to the GAC.

(2)Yunnan TengyunInformation Industry Company launches a WeChat mini-program called “Traveling China-Laos Railway” to create an online transnational tourism service platform for travelers along the route.

December 8 China's Changsha Customs reports that Hunan's foreign trade increased 26.5 percent year on year in the first 11 months of this year. Exports grew 32.5 percent year on year while imports rose 14.3 percent. Trade with ASEAN, the largest trading partner, was up 18.2 percent year on year.

December 9 China's Shandong Province launches the China-Laos freight train service. The first train departs from the

China-SCO Local Economic and Trade Cooperation Demonstration Area (SCODA) in Qingdao.

December 15 China will reduce tariffs of goods from 9 countries, including Cambodia, Laos, Thailand, and Vietnam, starting from January 1, 2022, to implement the RCEP agreement and promote the growth of regional trade and investment, according to the Ministry of Finance.

December 17 Kunming Customs reports that the foreign trade of China’s Yunnan Province grew 18.9 percent year on year in the first 11 months of this year. Exports increased 16.5 percent year on year, while imports rose 21.8 percent. The trade with ASEAN, the largest trading partner, grew 2.7 percent year on year.

December 18 The first China-ASEAN Forum of Veterinary Vaccine and Veterinary Drugs is held in Beijing to launch the collaboration of veterinary technologies and discuss the industry of animal diseases control.

December 20 Thailand’s exports rose 24.7 percent year on year in November, according to the Ministry of Commerce. Exports to China increased by 24.3 percent year on year.

December 21 The Ministry of Information of the Republic of the Union of Myanmar announces that Myanmar is willing to restart development and infrastructure projects with China. The State Administration Council (SAC) has reviewed a list of 97 projects that were proposed by the previous government in response to China's development assistance to Myanmar worth US$627 million and 15 projects under US$31 million grant from Chinarelatingto the China-Myanmar Economic Corridor (CMEC).

December 23 The China Railway Kunming Group Company Limited reveals that the China-Laos Railway has transported over 50,000 tons of goods since the operation started. The railway had handled 203 freight trains. China’s major export goods delivered via the railway included vegetables, fruits, and mechanical and electrical products.