The resolution of the third Plenary Session of the 20th CPC Central Committee set out to expand the global network of high-standard free trade zones. The China-Maldives Free Trade Agreement came into effect on January 1 this year. This is a practical measure to implement the important consensus between the leaders of the two countries and enrich the strategic cooperative partnership. In terms of trade in goods, more than 95 percent of the tariff lines and two-way imports achieved zero tariffs. After coming into force, the agreement has brought benefits to most of China's exports to the Maldives, including ships, electrical equipment and other industrial products, and agricultural products such as vegetables and fruits. The vast majority of Maldivian fish and aquatic products, nuts and wooden ornaments can also enjoy preferential treatment when exported to China. In terms of trade in services, the two countries have further opened up their service sectors. In terms of investment, national treatment is provided to each other to encourage and protect two-way investment.

The China-Singapore Free Trade Agreement Upgrade Protocol came into force on December 31, 2024. In terms of market access, the two sides have committed to high-level openness for services and investment through the negative list model, opened up manufacturing markets to each other, and reduced market barriers in various service sectors. In terms of rules, the two sides have set up institutions for high-standard rules in trade in services, investment and telecommunications services, and further expanded cooperation in emerging areas such as the digital economy. The entry into force and implementation of the Protocol will further deepen the

All-round High-quality Future-oriented Partnership between China and Singapore.

To date, China has concluded 23 free trade agreements with 30 countries and regions, spanning five continents. The network of free trade zones continues to expand and go deeper. The content and quality of free trade agreements are also improving. The negative lists for trade in services and investment, as well as new content such as standardization cooperation and digital economy, have become the default elements in China's free trade agreements. Going forward, we will make active efforts to expand the global network of high-standard free trade zones, and ensure high-quality implementation of the free trade agreements already in force, so that they can better benefit the people of China and our free trade partners. Thank you.