The Asian Development Bank recently released its "Asian Development Outlook" report, predicting that the economic growth rate of developing economies in the Asia Pacific region will be 4.6% in 2026, an increase of 0.1 percentage points from previous expectations. Supported by stable economic fundamentals and favorable investment environment, developing economies in the Asia Pacific region continue to enhance their endogenous growth momentum, and the overall economy maintains a steady growth trend, continuing to play a role as a global growth engine. According to this report, against the backdrop of slowing global growth and increasing uncertainty, the expected economic growth rates for East Asia in 2025 and 2026 have been raised to 4.6% and 4.1% respectively, with overall moderate inflation levels. Keiko Hagihara, Director of the Economic and Strategic Department of the Asian Development Bank's Representative Office in China, stated that by 2025, China's high-tech and innovative product exports will be outstanding, with a significant increase in exports of green products such as electric vehicles, photovoltaic products, and lithium batteries, effectively driving high-quality economic development in the Asia Pacific region. The economic growth rate in Southeast Asia is estimated to reach 4.5% in 2025 and is expected to increase by 4.4% in 2026. Among them, Indonesia, Malaysia, Singapore, and Vietnam had strong economic growth in the third quarter of 2025, driving the acceleration of annual economic growth. For example, Indonesia's economic growth rate exceeded 5% and Vietnam's economic growth rate exceeded 8% in 2025. Thanks to the rapid growth in the fourth quarter, Malaysia's economic growth rate in 2025 can reach 4.9%, exceeding previous expectations. According to Pu Zhishui, Chief Economist of the Asian Development Bank, the Asia Pacific region's economy has maintained a positive growth trend, partly due to the effectiveness of stable growth policies in developing economies in the region, which has solidified the foundation of domestic demand; On the other hand, developing economies in the Asia Pacific region are continuously accelerating the transformation of traditional industries into emerging industries, further unleashing technological dividends. In addition, the rebound in external demand for electronic products and other industrial manufactured goods has driven export trade. In the traditional field, the rapid recovery of the tourism industry provides an important driving force for regional economic growth. According to data from the United Nations Tourism Organization, the Asia Pacific region will receive 331 million international tourists in 2025, a year-on-year increase of 6%. In the first 11 months of 2025 alone, the number of tourists in Southeast Asia will reach 38.3 million, exceeding the annual level of 2024. In the field of high-tech, the latest report from the United Nations Conference on Trade and Development shows that, against the backdrop of weak global investment attraction, the proportion of investment attracted by high-tech industries and digital infrastructure in the Asia Pacific region is still significantly increasing. The head of research for HSBC's Asia Pacific region pointed out that in the first half of 2025, the trade volume related to artificial intelligence will surge year-on-year, with the Asia Pacific region contributing nearly two-thirds of the global increase. Digital service trade, represented by telemedicine, online education, and financial technology, is becoming a new growth pole. According to the Global Trade Outlook 2025 released by the World Trade Organization, the export value of digital delivery services in the Asia Pacific region will maintain double-digit growth in 2025, reflecting the continuous optimization of the region's trade structure. The process of regional integration injects momentum into the economic growth of the Asia Pacific region. This year marks the 4th anniversary of the implementation of the Regional Comprehensive Economic Partnership (RCEP). Professor Lan Qingxin from the University of International Business and Economics of China stated that RCEP has attracted over 30% of foreign direct investment globally, ranking among the top regional cooperation mechanisms in the world. With the signing of the China ASEAN Free Trade Area 3.0 Upgrade Protocol, cooperation between the two sides in areas such as digital economy, green development, and supply chain connectivity has further expanded. In the first 11 months of 2025, the total trade value between the two sides increased by 8.5% year-on-year, injecting new impetus into deepening regional coordination and responding to external uncertainties. The uncertainty of the international trade environment still poses a huge challenge to economic growth in the Asia Pacific region. Recently, the World Trade Organization lowered its forecast for global commodity trade growth in 2026 to 0.5% and warned that the impact of US tariff policies is gradually becoming apparent. Tong Meng Dawei, Deputy Director of the China ASEAN Research Center at Cambodia University of Technology, stated that unilateralism and protectionism are disrupting the global supply chain and putting pressure on export-oriented economies in the Asia Pacific region, forcing countries to seek coordinated responses. The developing economies in the Asia Pacific region have introduced a combination of policies to guide the smooth operation of the economy. Southeast Asian countries such as Thailand hedge against US dollar risks by cutting interest rates and implementing policy measures to boost domestic consumption and stimulate the vitality of the service industry. The digital economy has become a "new pivot" for Southeast Asian countries to hedge external risks and cultivate growth momentum. Malaysia plans to increase the proportion of digital economy in its gross domestic product to 25.5% by the end of 2030, and has recently successfully accelerated the digitization of payment systems through the issuance of electronic vouchers and other means. Indonesia continues to deepen its digital finance industry, with over 56 million users accessing the QR code payment system, the vast majority of whom are small and medium-sized enterprises. Vietnam has established data resources as strategic support through the Digital Government Development Plan, comprehensively promoting the intelligent upgrading of the manufacturing industry. Developing economies in the Asia Pacific region continue to strengthen their growth resilience by accelerating digital transformation and technological innovation. ”Tang Longgong, President of the the Belt and Road Economic and Educational Development Research Institute of Thailand, said that the accelerated integration of digital intelligent technology and the real economy has effectively improved production efficiency and constantly consolidated regional competitive advantages. HSBC research believes that relying on the vast market depth and accelerated release of innovative potential, the Asia Pacific region will continue to play a stabilizing role in the global economy and continue to drive global economic growth. (New Society)