10. We persistently broadened and deepened opening up, and worked faster to develop new institutions for an open economy.

We took solid steps to cope with the uncertainties of the Covid-19 pandemic and the external environment, and continued to open up more sectors of the economy in a more thorough fashion to more countries.

1) Greater efforts were made to ensure stable foreign trade and foreign investment.

Last year, China's total volume of trade in goods reached 32.2 trillion yuan, and foreign investment totaled US$ 144.4 billion. We expanded the coverage of export credit insurance, increased export credit supply, and improved the export tax rebate policy. We kept processing trade stable, and supported the innovative development of border trade.

The development of new forms and models of trade picked up pace with the establishment of 46 additional integrated experimental zones for cross-border e-commerce, the expansion of trials on retail import to 86 cities and throughout Hainan Island, and the launching of 17 new market procurement trade trials. We actively explored new forms of business such as maintenance services in bonded areas and off-shore trade. We successfully hosted the third China International Import Expo and the China International Fair for Trade in Services, and held the 127th and 128th China Import and Export Fair online. Steady progress was made in jointly implementing phase one of the China-US economic and trade agreement.

The two editions of the 2020 negative list for foreign investment regarding the whole country and regarding pilot free trade zones were reduced to 33 and 30 items respectively, with restrictions on market access being further relaxed for services, manufacturing, and agriculture. We issued the 2020 edition catalog of industries open to foreign investment, expanding the scope of investment. We formulated a negative list for foreign investment in the Hainan Free Trade Port, and promoted a higher standard of liberalization and facilitation of investment in this area. Beijing saw a new round of comprehensive trials for further opening up the service sector.

2) Steady progress was made in advancing the Belt and Road Initiative (BRI).

We coordinated efforts to contain Covid-19 and to develop overseas BRI projects, with outbound investment generally remaining stable. China signed the cooperation plan with the African Union on jointly promoting the development of the BRI. International cooperation on production capacity and third-party market cooperation were continuously enhanced. In developing the China-Pakistan Economic Corridor, the two countries worked together to successfully coordinate epidemic response and economic development, thereby providing a model of coordination for other BRI projects. Positive results were achieved in the building of the Kyaukpyu Special Economic Zone in Myanmar and the China-UAE Demonstration Park for Industrial Production Cooperation, and construction progressed steadily on projects to improve connectivity, such as the Jakarta-Bandung high-speed line and the Hungary-Serbia, China-Laos, and China-Thailand rail lines.

We intensified efforts to advance the healthy, green, and digital Silk Road initiatives. China-Europe freight train services continued to develop smoothly, with over 12,000 trips being made despite difficulties, a year-on-year increase of 50%, and the ratio of loaded containers reached 98.4%.

3) Breakthroughs were made in opening-up pacesetter projects.

We issued a comprehensive plan for developing the Hainan Free Trade Port, and worked faster to establish the policy and institutional framework for its development. An additional three pilot free trade zones were set up, including one in Beijing, and the pilot free trade zone in Zhejiang was expanded. Over the course of the past year, 37 institutional innovation practices from pilot free trade zones were applied across the country, bringing the total number of such practices to 260. A total of 12 new integrated bonded areas were established, and another 7 special customs regulation zones were upgraded into integrated bonded areas. Key pilot zones for development and opening up were set up in Baise, Guangxi and Tacheng, Xinjiang.

4) New strides were made toward greater participation in global economic governance.

China has actively introduced its stance and approaches through important multilateral platforms including the BRICS, the UN, the G20, and APEC. We made progress toward the formal signing of the Regional Comprehensive Economic Partnership (RCEP) Agreement, the China-Cambodia Free Trade Agreement (FTA), and the China-EU Geographical Indications Agreement. The China-Mauritius Free Trade Agreement was put into force as scheduled. Negotiations on the China-EU Comprehensive Agreement on Investment were completed on time, and talks on FTAs with Norway and Moldova were accelerated. China proposed the Global Initiative on Data Security, and promoted international cooperation and exchanges with regard to the digital economy. China has worked actively to develop global partnerships, advanced coordination and cooperation with other major countries, strengthened relations with neighboring countries, and enhanced solidarity and cooperation with other developing countries.