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The upgrade of the FTA will bring real benefits to the people and companies of the two countries and send a strong signal of further expanding trade and investment, Lee said.

Noting that this year marks the 40th anniversary of China's reform and opening-up, Xi recalled that during the past 40 years, with the support of the international community, the Chinese people have forged ahead with perseverance and made historic achievements in development.

SAME SHIP

William Jones, Washington bureau chief of the U.S. publication Executive Intelligence Review, told Xinhua in an interview that the 40th anniversary of the reform and opening-up is extremely important and is a pivotal moment.

13.Both sides hail the progress in bilateral trade and economic cooperation, and will continue to actively implement the Six-Year Development Program for Trade and Economic Cooperation (2017-2022). The two sides agree to promote bilateral trade and investment settlements denominated in domestic currencies, and further strengthen exchanges and cooperation between the two customs, to further facilitate economic and trade activities.