China and the Association of Southeast Asian Nations (ASEAN) have signed an upgraded “3.0” version of their free trade agreement, aiming to deepen economic cooperation across infrastructure, digitalization, green transition, trade facilitation, and people-to-people exchange. The agreement was signed on October 28 during the 47th ASEAN Summit in Kuala Lumpur, attended by Chinese Premier Li Qiang and Malaysian Prime Minister Anwar Ibrahim. Trade between China and ASEAN has steadily grown despite global trade tensions, reaching $785 billion in the first nine months of 2025, a 9.6% increase from last year. The rise reflects both industrial supply chain products and an increasing share of Chinese consumer goods in Southeast Asian markets. Officials expect the new agreement to broaden and enhance high-quality economic collaboration between the two regions.