In 2019-2020，affected by geopolitical shocks and Covid-19，the total volume and scale of global trade has shrunk for two consecutive years. It is in this context that China’s trade cooperation with the “Belt and Road” countries grew against the trend in 2019 and 2020. As the tightness of trade is further increased，China and the “Belt and Road” countries have become more important trading partners to each other. In terms of regional structure，the tightness of trade with ASEAN has increased by bounds and leads，enabling ASEAN to replace the United States as China’s largest trading partner and facilitating the official signing of Regional Comprehensive Economic Partnership （RCEP） at the end of 2020. The closer trade relationship between China and the “Belt and Road” countries also implies the reorganization of the international division of labor and the global industrial chain. The international division of labor based on China’s massive market and huge production capacity is gaining a more independent position，and creating great possibilities for the “Belt and Road” countries. Especially in the joint fight against Covid-19，China’s trade relations with the “Belt and Road” countries provide guarantees in terms of medical supplies，protective equipment and daily necessities. The China-Europe Railway Express has become the “lifeline” for combating Covid-19. In addition，digital trends such as the rapid development of cross-border e-commerce，sustainable development such as green development and environmental protection，and safer and more robust division of labor and cooperation in the industrial chain and supply chain，open up new possibilities and directions for the stable development of the world economy.