Based on the analysis of the main parameters of the economic relations of ASEAN countries with the PRC, the author concluded that the permanent declaration of the PRC aspired to develop mutually beneficial relations with the ASEAN countries is not confirmed in practice of these relations. He drew attention to the fact that after the conclusion of the China-ASEAN Free Trade Area (CAFTA), the turnover of mutual trade has a constantly growing negative saldo for the ASEAN countries: in 2010-2015, it jumped 14 times. During this period, there was a significant outflow of direct investment from ASEAN countries to China. The stock of direct investment of China in the ASEAN countries is 2.6 times less than the similar investments of ASEAN countries in China. The author believes that the economic relations of the ASEAN countries with China as a whole are clearly not of a mutually beneficial nature.