There are many business opportunities for the development of China and ASEAN's digital economy in 2021. Recently, Xu Ningning, executive director of the Business Council, said that China and ASEAN countries live close to each other, and the development of the digital economy is highly complementary. In recent years, cooperation has become increasingly active and close. There is a strong demand for corporate cooperation and it is time to enhance cooperation.

Digital technology and digital economy have played an irreplaceable positive role in preventing and fighting epidemics, resuming work and production, and ensuring people's lives. The importance of digital economy in restoring the economic and social development of various countries, creating more employment opportunities, and enhancing people's livelihood and well-being is highlighted.

ASEAN's development priorities in 2021

It is understood that ASEAN attaches great importance to the development of the digital economy and is implementing the "ASEAN Digital Integration Framework" Action Plan 2019-2025. In November 2020, the 37th ASEAN Leaders’ Meeting adopted the ASEAN Comprehensive Recovery Framework, which includes the implementation of inclusive digital transformation. At present, while preventing and controlling the epidemic, ASEAN countries are implementing economic stimulus plans to promote economic recovery, including the development of a digital economy. The development of the digital economy is one of the three major priorities in 2021. Since 2021, the first ASEAN Digital Ministers’ Meeting held in January, the 27th ASEAN Economic Ministers’ Meeting held on March 2, and the 15th ASEAN Information Ministers’ Meeting held on March 12 have all focused on discussing ASEAN’s digital economy, Cooperative development of digital technology.

It is estimated that by 2025, the scale of ASEAN e-commerce will increase from US$100 billion to US$300 billion.

In recent years, economic ministers, ambassadors to China, and business leaders of relevant ASEAN countries have met with Executive Director Xu Ningning and suggested that the China-ASEAN Business Council play more roles in enhancing bilateral digital economic cooperation. The China-ASEAN Business Council also initiated the establishment of the China-ASEAN Science and Technology Industry Cooperation Committee in collaboration with TusHoldings Group of Tsinghua University.

China-ASEAN digital economy cooperation is in the ascendant

At present, China and ASEAN are each other's largest trading partner and each other's important investment partners. This constitutes favorable conditions for the cooperation and development of the digital economy of the two parties, and also brings a lot of business opportunities to the digital economy enterprises of both parties.

Xu Ningning mentioned that the "China-ASEAN Strategic Partnership Vision 2030" that is being implemented proposes that the two parties strengthen physical and regulatory connectivity, promote close market integration and enhance digital connectivity, including support, in accordance with the strategic objectives of the "ASEAN Interconnection Master Plan 2025" Implement the "ASEAN ICT Master Plan 2020", etc. Explore cooperation and collaboration in technological innovation in areas of common concern, including seizing opportunities in the digital economy and technological innovation, responding to potential new technological challenges, and achieving innovation-driven development in areas such as telecommunications, e-commerce, and smart city development. Welcome to establish the ASEAN Smart City Network, and welcome China to support the ASEAN Smart City Network.

At the opening meeting of the 16th China-ASEAN Expo and Summit to be held in September 2020, Chinese leaders suggested that the two sides should deepen cooperation in innovation. China is willing to work with ASEAN countries to take the opportunity of next year's China-ASEAN Digital Economy Cooperation Year to actively expand cooperation in areas such as e-commerce, digital trade, and 5G networks. China supports the construction of ASEAN's smart city network and will promote more Chinese cities to carry out smart city point-to-point cooperation with ASEAN.

The 22nd China-ASEAN Leaders’ Meeting held in November 2019 issued the “China-ASEAN Smart City Cooperation Initiative Leaders’ Statement”. At the 23rd China-ASEAN (10+1) Leaders' Meeting held in November 2020, the "China-ASEAN Initiative on Establishing a Digital Economy Partnership" was published.

China-ASEAN digital economy cooperation demonstrates vitality

China-ASEAN is creating more new cooperation highlights in the fields of smart cities, 5G, artificial intelligence, e-commerce, big data, blockchain, and telemedicine.

The Philippine telecommunications giant Global Telecom has officially launched the country’s first 5G commercial network service, and Huawei is its core equipment supplier; in January 2021, Huawei’s 5G test in the Philippines was officially completed, and the tested 5G speed set a new record . Recently, Huawei has established a 5G innovation research and development center in Thailand; Huawei Malaysia and the Malaysian Digital Economy Corporation (MDEC) have signed a memorandum of understanding to work together to build Malaysia into an ASEAN digital hub.

UnionPay International announced that it has reached a cooperation agreement with a Vietnamese financial institution to issue 600,000 UnionPay virtual cards to support online card application and QR code payment. Prior to this, UnionPay International and Cebuana Lhuillier Bank of the Philippines reached an agreement to issue 6 million UnionPay cards within two years starting from December 2020. This is the first large-scale issuance of UnionPay cards in the Philippines. Currently, Singapore, Thailand, Malaysia, Cambodia, and Vietnam have launched 18 UnionPay standard electronic wallets, covering payment scenarios such as catering, transportation, and shopping. In addition, Alipay is very common in ASEAN.

In Indonesia, JD Indonesia's delivery service has covered 7 islands, 483 cities and 6,500 districts and counties. 85% of orders can be delivered within 24 hours throughout Indonesia, and 98% of orders can be delivered in Jakarta. Delivered within 24 hours.

In 2020, China Mobile International Co., Ltd. announced the official launch of its self-built and self-operated data center in Singapore. This is CMI's first overseas data center to be completed and operated, and it is also CMI's second cloud network core base in the Asia-Pacific region.

Xu Ningning said that currently, ASEAN countries are optimistic about the business opportunities of developing cross-border e-commerce with China. Facing the huge economic impact of the new crown pneumonia epidemic, ASEAN countries believe that it is the right time to strengthen e-commerce cooperation with China. Shanghai’s “digital trade” strengthens and has greater expectations for China’s economic and trade cooperation, and hopes that cross-border e-commerce can help more domestic products enter the Chinese market.

Open up a broad space for cooperation

Xu Ningning suggested the development of China-ASEAN and its member states' digital economic cooperation. First, we should fully realize and give full play to the positive role of the digital economy in China-ASEAN economic development, accelerate the construction of China-ASEAN network infrastructure, explore the establishment of venture capital cooperation mechanisms, effectively use financial mechanisms, and increase capital investment, technical support and Intellectual protection, expand participation of all parties to eliminate the digital divide, strengthen international cooperation in data security, and improve the level of interconnection.

Secondly, we should give full play to the enthusiasm of enterprises as the main body of digital economy construction, support the establishment of international industry alliances between Internet companies and scientific research institutions of both sides, and promote the establishment of multinational Internet industry investment and financing platforms to jointly build e-commerce trading platforms, logistics information service platforms, and online payments. In various forms such as service platform, we will build a new international cooperation platform for the information economy, expand the international market for various information technology services such as platform design, talent cultivation, creative promotion, and supply chain services, and drive the quality and efficiency of international commodity circulation and transportation logistics.

Third, to develop China-ASEAN and its member states' digital economy cooperation, bilateral cooperation and multilateral cooperation should be mutually promoted, accelerate the establishment of a cooperation mechanism to promote the development of the digital economy, implement cooperation that complements each other's strengths, and take innovative and pragmatic promotion of the development of the digital economy as the current economy The major measures for alleviating difficulties and long-term development have spurred the two sides to expand trade and investment, and promote economic recovery and growth.

Finally, companies should take advantage of the opportunity of the 2021 China-ASEAN Sustainable Development Cooperation Year and the "Regional Comprehensive Economic Partnership Agreement" that will come into effect to enhance mutual understanding and exchanges, connect business opportunities and cooperation, and deepen the development potential of digital economic cooperation. Chinese local governments should organically integrate the development and development of the "dual circular" economy with the cooperation of ASEAN's digital economy, so as to obtain new development through openness and innovation. Editor/Tian Zengpeng