China and the ROK are close neighbors and cooperation partners. With the joint efforts of both sides, the bilateral trade and economic relations have grown rapidly, and the two countries have become important trading partners. Bilateral trade is over USD360 billion, and two-way investment is over USD100 billion. The two sides have effectively aligned development strategies, successfully implemented the Free Trade Agreement, steadily moved forward cooperation under the join industrial parks, and continue to deepen third-market cooperation. The industrial chains and supply chains have been deeply intertwined, and remain stable and unimpeded. China and ROK are both parties to the RCEP, which took effect earlier this year. It will provide broader space for further trade and investment cooperation between the two countries.

As we celebrate the 30th anniversary of diplomatic relations, China is ready to work with the ROK to implement the important common understanding of the two leaders, especially by focusing on the implementation of the China-ROK trade and economic cooperation plan 2021-2025, so as to deepen and widen trade and investment cooperation, ensure high-quality implementation of the RCEP, promote institutional building of RCEP, and jointly support trade liberalization and economic globalization, to the benefit of the two countries and two peoples. Thank you.