Abstract:
Based on the 2000-2022 GDELT mass media data, this paper constructed the financial cooperation network of China-ASEAN and analyzed its structure, evolution characteristics, and influencing factors. The results indicate that: 1) The network has been influenced by macro-environmental changes such as the Asian financial crisis, the global financial crisis, and the rise of anti-globalization trends. It shows an evolution from a continuous rise to a fluctuating downward trend, reflecting "slow growth", "active integration", and "gradual adjustment" stages. 2) The China-ASEAN financial cooperation network exhibits internal imbalance, geographical priority proximity, and has a pyramid hierarchical distribution. Overall, the China-ASEAN financial cooperation network has become increasingly close with a more obvious small-world character. At the local level, internal groups have narrowed gradually. At the individual level, the importance of each country has risen. Particularly, China, Thailand, Vietnam, and Malaysia dominate the network and act as "bridges". 3) Financial development distance, degree of trade, economic proximity, institutional distance, marketization distance, language proximity, religious proximity, geographical proximity, informatization, transportation development, and digital economy distance are important factors affecting China-ASEAN financial cooperation. However, economic proximity, financial development distance, and digital economy distance have stage effects on the China-ASEAN financial cooperation network.