On October 30, China and Switzerland signed a protocol to upgrade the FTA. Please tell us about the situation? The signing of the FTA upgrade protocol between China and Switzerland is a concrete measure to implement the important consensus reached by the leaders of the two countries. After nearly two years and five rounds of negotiations, on October 30, under the joint witness of the two heads of state, China and Switzerland signed a protocol to upgrade the free trade agreement in Beijing. In the next step, the two sides will separately carry out their respective domestic procedures to promote the early entry into force and implementation of the protocol. After the entry into force of the protocol, the two sides will achieve a higher level of market access in specific fields such as goods, services, and investment. Products that both sides eventually implement zero tariffs can cover more than 99% of bilateral trade volume. Swiss products such as coffee, machine tools, watches, and medical care will usher in broader market prospects in China, and Chinese products containing oilseeds such as sunflower seeds, vegetable oil, pet food, etc. will also enter the Swiss market with more favorable tariff treatment. The Swiss side has made a number of new commitments in the fields of natural person movement, traditional Chinese medicine, equipment repair and maintenance. China has opened up manufacturing related services and professional design departments to Switzerland, and has made high-level commitments in the fields of finance, shipping, and air transport. The protocol also further optimizes relevant rules, and the two sides will actively deepen cooperation in emerging fields such as digital trade, competition, trade and sustainable development. The signing of the protocol fully demonstrates the clear attitude of the two sides in choosing certainty and supporting free trade, and is of great exemplary significance for countries to work together to address international economic and trade challenges. Thank you.

On October 30, China and Switzerland signed a protocol to upgrade the FTA. Please tell us about the situation? The signing of the FTA upgrade protocol between China and Switzerland is a concrete measure to implement the important consensus reached by the leaders of the two countries. After nearly two years and five rounds of negotiations, on October 30, under the joint witness of the two heads of state, China and Switzerland signed a protocol to upgrade the free trade agreement in Beijing. In the next step, the two sides will separately carry out their respective domestic procedures to promote the early entry into force and implementation of the protocol. After the entry into force of the protocol, the two sides will achieve a higher level of market access in specific fields such as goods, services, and investment. Products that both sides eventually implement zero tariffs can cover more than 99% of bilateral trade volume. Swiss products such as coffee, machine tools, watches, and medical care will usher in broader market prospects in China, and Chinese products containing oilseeds such as sunflower seeds, vegetable oil, pet food, etc. will also enter the Swiss market with more favorable tariff treatment. The Swiss side has made a number of new commitments in the fields of natural person movement, traditional Chinese medicine, equipment repair and maintenance. China has opened up manufacturing related services and professional design departments to Switzerland, and has made high-level commitments in the fields of finance, shipping, and air transport. The protocol also further optimizes relevant rules, and the two sides will actively deepen cooperation in emerging fields such as digital trade, competition, trade and sustainable development. The signing of the protocol fully demonstrates the clear attitude of the two sides in choosing certainty and supporting free trade, and is of great exemplary significance for countries to work together to address international economic and trade challenges. Thank you.