China News Service, Beijing, February 9 (Reporter Liu Liang) A report released by the Asian Development Bank (ADB) on the 9th pointed out that during the new crown epidemic, despite the restrictions on personnel travel and supply chain disruptions hindering global trade, the Asia-Pacific economic Inter-body trade remains at a three-decade high, boosting the region's economic resilience.

  ADB noted that in the first three quarters of 2021, Asia-Pacific trade volume will grow by 29.6%, while global trade volume will increase by 27.8%.

During the same period, intra-regional trade rebounded by 31.2% from the 3.1% decline in 2020, according to the 2022 Asian Economic Integration Report released today.

In 2020, intraregional trade accounted for 58.5% of the region's total trade, the highest level since 1990.

  The ADB said the region's economic resilience was aided by strong intra-regional trade momentum, as well as the unleashing of pent-up global demand and China leading the way to an economic recovery.

The report pointed out that measures to further promote cross-border trade and investment, such as the newly launched free trade agreement - the Regional Comprehensive Economic Partnership Agreement, will help promote regional economic and trade integration and pave the way for a sustainable recovery after the epidemic. the way.

  According to the report, Asia-Pacific economies continue to advance their integration in areas such as new technologies and digital connectivity, environmental cooperation, trade linkages, investment and value chain participation.

  FDI in the region also remained resilient, falling by just 1.3% in 2020, compared with a global decline of 34.7%.

Meanwhile, remittances into the region are expected to grow by 2.5% in 2021, following a 2.0% decline in 2020.

  Tourism remains one of the hardest hit sectors by the outbreak, the ADB said.

In 2020, the number of international tourists visiting the Asia-Pacific region plummeted by 82.8% compared to the pre-pandemic annual average from 2015 to 2019.

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