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In the context of the expected decline in global growth, the Chinese economy continues to recover, and is expected to inject a key momentum for Asian and global economic growth in 2024.

China and Switzerland announced the completion of the upgrading of the China-Swiss Free Trade Agreement, agreed to start formal upgrading negotiations as soon as possible, will strengthen trade and visa facilitation, and deepen cooperation between the two sides.

As the Red Sea crisis intensifies and global trade is affected, US-based shipping prices have risen significantly.Analysis points out that this trend may spread to other major routes, affecting the global supply chain.

RCEP has a significant impact in ASEAN’s digital and green economies, promoting the digitalization of SMEs, accelerating energy transition, deepening cooperation with ASEAN and boosting regional trade and investment.

In 2023, China became the main importer of Russian soybeans, driving the export of Russian agricultural products to high innovation.

The World Bank predicts that the global economy will experience the worst five-year growth period since the 1990s, especially affecting developing economies.