Jinan Times APP:

Could you brief us on trade between China and ASEAN in the first three quarters? In addition, what new opportunities will the official signing of the China-ASEAN Free Trade Area 3.0 Upgrade Protocol bring for trade between China and ASEAN? Thank you.

Wang Jun:

Thank you. I'd like to invite Mr. Lyu to answer your questions.

Lyu Daliang:

ASEAN is China's largest trading partner. Since China and ASEAN established a comprehensive strategic partnership in 2021, bilateral economic and trade cooperation has grown ever closer, with the trade volume successively surpassing the milestones of 5 trillion yuan and 6 trillion yuan. Last year, it reached 6.99 trillion yuan, nearly 7 trillion yuan. In the first three quarters of this year, the total value of China's imports and exports with ASEAN countries reached 5.57 trillion yuan, up 9.6% year on year, accounting for 16.6% of China's total foreign trade. ASEAN has remained China's largest trading partner, while the mutually beneficial economic and trade relationship, characterized by complementary advantages, has continued to deepen.

From the consumer perspective, it has enriched consumption choices on both sides. ASEAN has been China's largest trading partner in agricultural products for eight consecutive years. In the first three quarters of this year, China's imports of agricultural products from ASEAN rose 15.3%, accounting for 19.1% of the country's total agricultural import value. ASEAN has become China's second-largest source of agricultural imports. Among these imports, the volume of fruit shipments entering the Chinese market via the China-Laos Railway, a "golden thoroughfare," soared 37.8%, allowing domestic consumers to enjoy tropical flavors more quickly and with greater freshness. At the same time, ASEAN is also China's largest market for agricultural exports. In the first three quarters, exports of citrus fruits, lettuce and other produce to ASEAN grew rapidly, allowing consumers in the region to enjoy an even wider variety of "Chinese flavors."

From an enterprise perspective, it has supported industrial cooperation between the two sides. With the full implementation of China's multilateral and bilateral free trade agreements with ASEAN as a whole and individual ASEAN member states, the benefits of tariff reductions and trade facilitation policies continue to take effect. Industrial and supply chain integration within the region has deepened, further expanding the space for industrial cooperation between China and ASEAN. In the first three quarters, China's exports of textile machinery and textile raw materials to ASEAN climbed 28.2% and 13.4%, respectively, while imports of garments rose 9.3%. Additionally, China's imports of rubber from ASEAN jumped 40.7%, and exports of auto parts, including tires, grew 19.8%.

From the perspective of importers and exporters, trade channels between the two sides have become smoother. China and ASEAN are connected by mountains and rivers. The BRI has been fully aligned with the Master Plan on ASEAN Connectivity 2025, and a number of landmark projects, such as the China-Laos Railway, have been completed. The multidimensional connectivity network has continued to improve, providing strong support for deepening economic and trade cooperation. In the first three quarters, China's trade with ASEAN via land transportation rose 21%, while shipments by sea, air and other means also continued to grow rapidly.

The China-ASEAN relationship has become the most successful and dynamic model of regional cooperation in the Asia-Pacific. As you just mentioned, the negotiations on CAFTA 3.0 have been fully concluded. We believe this will inject new impetus into the development of bilateral economic and trade relations, while providing greater certainty for regional and global trade. Customs will continue to enhance supervision capabilities and service quality, and lift China-ASEAN bilateral economic and trade cooperation to new heights. Thank you.

Jia Huili:

The last two questions, please.