He Yongqian: Friends from the press, good afternoon. Welcome to MOFCOM regular press conference. Let me start by sharing a piece of information with you.

China’s outbound investment cooperation from January to October 2024.

From January to October 2024, China’s non-financial direct investment reached USD115.83 billion, up 10.6% year on year. Chinese businesses made non-financial direct investment in BRI partner countries worth USD26.65 billion, up 3.0% year on year.

From January to October 2024, the turnover of completed overseas contracted projects amounted to USD124.38 billion, up 2.0% year on year, with newly singed contracts worth USD177.65 billion, up 15.3% year on year. In BRI partner countries, Chinese businesses reported USD100.82 billion in the turnover of completed overseas contracted projects and USD148.64 billion in newly signed contracts, respectively up by 0.8% and 15.7% year on year.

Cover: The 31st APEC Economic Leaders’ Meeting was held in Lima, Peru. What outcomes have been achieved at the meeting on trade and economic fronts? What will China do to advance the development of the Free Trade Area of the Asia-Pacific?

He Yongqian: On November 16, 2024, the 31st APEC Economic Leaders’ Meeting was held in Lima, Peru. The Declaration of the 31st APEC Economic Leaders’ Meeting was published, highlighting the agreement on supporting the multilateral trading system, advancing regional economic integration of the Asia-Pacific, enhancing supply chain connectivity and promoting digital trade and green and low-carbon development. These outcomes inject new impetus into building an open and connected Asia-Pacific and promoting the development of an open Asia-Pacific economy.

Building a Free Trade Area of the Asia-Pacific is the common vision of APEC members for regional economic integration. The meeting adopted the Ichma Statement on A New Look at the FTAAP Agenda, which provides new guidance for the FTAAP. China will work with other parties to uphold the FTAAP as the main channel for regional economic integration, make use of the APEC Ministers Responsible for Trade Meeting, the Committee on Trade and Investment and other mechanisms to give full play to APEC’s role as an incubator, carry out more targeted capacity building and information sharing activities, explore new issues and rules, and promote greater synergy among different trade agreements in the region. We will promote mutual opening-up at a higher level among members and create favorable conditions for the eventual establishment of the FTAAP. Thank you.

CBN: A ministerial meeting between China and members of the Digital Economy Partnership Agreement (DEPA) was held during the APEC Ministerial Meeting. Could you say something about the progress concerning China’s application to join DEPA?

He Yongqian: A ministerial meeting between China and members of DEPA was held on November 14 during the APEC Ministerial Meeting, and parties concerned exchanged views on the progress of negotiations and next-phase work.

On August 18, 2022, based on the decision of DEPA Joint Committee, a working group was set up to advance talks on China’s joining DEPA, launching negotiations on its accession to the agreement. Under the working group, China has held five rounds of ministerial-level meeting with DEPA members and numerous Chief Negotiator’s meetings and technical consultations. These meetings discussed digital economy-related topics including business and trade facilitation, the treatment of digital products, data issues, cybersecurity, emerging technologies and digital inclusiveness, and made positive progress.

Going forward, China will work with DEPA members to accelerate the negotiation process and strive for early results. In the meantime, we will jointly tap the potential of cooperation on digital economy and deliver early results of cooperation projects. Thank you.

Market News International: The Chinese Ministry of Commerce recently held a meeting with Japan, Australia, Peru, Canada and other CPTPP members. What is the progress on China's accession to the CPTPP?

He Yongqian: China attaches great importance to joining the CPTPP. President Xi Jinping has made it clear on many important diplomatic occasions that China will work actively to join the CPTPP. Since we submitted the application, China has conducted in-depth analysis and assessment of the text of the agreement, and prepared offers for market access in trade in goods, trade in services, investment and government procurement. In keeping with the accession procedure, we conducted exchanges with CPTPP members at various levels and through multiple channels, and provided the CPTPP Committee with external communication documents on China's accession to the CPTPP, fully demonstrating China's determination, ability and actions to meet the high standards of the agreement. At the same time, China has taken the initiative to advance policy adjustment and legislative amendment in relevant areas in accordance with the content of the agreement, and conducted trials in pilot free trade zones and free trade port where conditions permit.

Going forward, we will continue to carry out in-depth communication and exchanges with other members in accordance with the procedures and actively advance the accession process. At the same time, we will be determined in implementing the requirements of the third Plenary Session of the 20th CPC Central Committee. We will steadily expand institutional opening-up, take the initiative to align with CPTPP and other high-standard international economic and trade rules, and strive to further harmonize rules, regulations, management and standards in such areas as property rights protection, industrial subsidies, environmental standards, labor protection, government procurement, e-commerce and finance. Thank you.