China and ASEAN (Association of Southeast Asian Nations) will greet a "golden decade" following China's Belt and Road Initiative, and their trade value is expected to expand to $ 1 trillion, with bilateral investments of $ 150 billion, according to research released by the Chinese Academy of Social Sciences (CASS) on June 25.

The Belt and Road Initiative is the Chinese version of "Asian Rebalance", the Social Sciences Academy said at a press conference on its research findings.

The think tank anticipates that China will import merchandise worth about $ 10 trillion from other countries and have foreign investment surpassing $ 500 billion, China's economy moves from factor-driven to innovation-driven, and from external demand pull to internal demand pull.

It means China will change from a buyer to a provider of regional public products, especially the economic public products.

The research group added that only by integration and cooperation can the Belt and Road Initiative reconstruct the Asian political and economic pattern. From this perspective, the Belt and Road Initiative is the Chinese version of "Asian Rebalance" on the basis of development needs.

If the Initiative could balance the Asian economy and integrate Asia, it would have significant impact on the Asia-Pacific regional order, the research group said.