On October 28th, China and ASEAN signed the China-ASEAN Free Trade Area version 3.0 upgrade protocol in Kuala Lumpur, Malaysia. The relevant person in charge of the Ministry of Commerce said that after the signing of the protocol, the two sides will perform their respective domestic approval procedures to promote the early entry into force and implementation of the protocol.

3.0 The version of the upgrade protocol covers a total of 9 major areas, adding five new areas: digital economy, green economy, supply chain interconnection, competition and consumer protection, and small, medium and micro enterprises. It reflects the two sides 'active leadership in the formulation of international rules and promoting cooperation in emerging fields. Common will and actions. On the basis that market access for goods, services, and investment has reached a high level of openness, version 3.0 focuses on rules and cooperation areas. By ensuring fair competition among enterprises, safeguarding the legitimate rights and interests of consumers, supporting the development of small, medium and micro enterprises, and improving the performance of underdeveloped countries, the ability to promote the inclusive development of the regional economy, so that enterprises and people in China and ASEAN countries can benefit from regional economic growth.

Lin Feng, the head of the Ministry of Commerce's international department, said that the signing of the protocol reflects the firm support of multilateralism and free trade by practical actions of the two sides, the joint resistance of unilateralism and protectionism to all countries, and the joint response to international economic and trade challenges, and made an important demonstration. signalled that free trade cooperation between the two sides will move towards a deeper level, promote deep regional economic integration, contribute to the joint construction of a large regional integrated market based on rules, and promote the construction of the China-ASEAN destiny community.

China-ASEAN Free Trade Area is the first free trade area negotiated and established by both sides. In 2002, the construction of China-ASEAN Free Trade Area began; In 2010, China-ASEAN Free Trade Area version 1.0 was fully completed; In 2019, version 2.0 of the upgrade protocol came into full effect. In 2022, the version 3.0 upgrade negotiations will be launched until the version 3.0 negotiations will be fully completed in May this year.

(CCTV reporters Wu Hao and Zhang Xin)