We are also heartened that the RCEP, the free trade agreement between the ten ASEAN countries and our six most important dialogue partners in Asia, is on track to be signed by the end of the year. We also welcome Premier Li Keqiang’s remarks that China has a positive and open attitude to joining the CPTPP. There will be no clearer signal to demonstrate China’s continuing commitment to its reform and opening up journey than taking these concrete steps.

I want to expand on what the Ambassador from Canada had said. He shared about the importance of healthcare, financial education, the service sector, and opening up and reform. I just want to quickly mention insurance, whether it be natural catastrophe insurance, healthcare insurance, or unemployment insurance. And I say this because I think building the right level of social safety nets here in China is crucial. If the plan is to shift towards domestic consumption as a key driver of the economy going forward, people can spend with confidence only when there are sufficient social safety nets. Otherwise, the natural tendency is to save for a rainy day and we know that our natural instinct is to do so. Policymakers will need to look at how the government, employers, businesses, individuals, employees, families, and the wider community can work together to build up social safety nets. We have heard a lot about China’s Dual Circulation Strategy and how domestic circulation and international circulation can complement each other. We certainly look forward to exploring how all of us can contribute to as well as benefit from this new strategy.

Finally, I want to say that it is important to rebuild strategic trust between countries and also to strengthen trust between commercial entities and governments. It is not uncommon to hear lingering concerns from foreign companies over whether there is a level playing field in China or whether there is fair market access. We recognize and welcome the fact that China has made huge strides in this regard over the past few decades, but we know that much more can and need to be done in the years to come. When businesses are sure that China is serious about addressing their concerns, and that any policy shifts or rule changes are in the direction of creating a more pro- business operating environment, then I think the investment climate here in China will become even more positive. If you can expand this reservoir of trust between countries and with businesses, it will be a major step forward in expanding economic exchanges, investment and trade flows that will ultimately benefit our peoples. This will help us overcome COVID-19, the most serious economic and social crisis that we have faced in the past 100 years.