FTA 3.0 between China, ASEAN to further expand cooperation in emerging fields: experts

The Version 3.0 China-ASEAN free trade agreement (FTA), finalized at the 27th China-ASEAN Summit in the Lao capital city of Vientiane on Thursday, will further expand cooperation in emerging fields, according to experts.

The upgrades cover the following areas: the digital economy; the green economy; supply chain connectivity; standards, technical regulations and conformity assessment procedures; sanitary and phytosanitary measures; customs procedures and trade facilitation; competition and consumer protection; small and medium-sized enterprises; and economic and technological cooperation.

For the first time, China and ASEAN have reached the highest-level agreements in their respective trade and economic arrangements regarding the digital economy, green economy, and supply chain connectivity.

"This will promote the digital and green transformation of both parties and has significant pioneering importance. The two sides have optimized chapters on customs procedures and trade facilitation, sanitary and phytosanitary measures, and economic and technical cooperation. Additionally, a new chapter on micro, small, and medium-sized enterprises (MSMEs) has been added, which will help reduce transaction costs and bring more benefits to businesses and people on both sides," said Chen Zhiyang, deputy head, Department of International Economic and Trade Relations, Ministry of Commerce.

At the same time, the Version 3.0 China-ASEAN free trade agreement (FTA) will prioritize advancing standard cooperation and mutual recognition in fields such as new energy vehicles and electronics.

"This will also effectively address the current issue of inconsistent standards between China and ASEAN in related industries, reducing market entry barriers and institutional costs. It will promote regional investment and provide a better development environment for companies on both sides to further develop green industry cooperation, with a focus on new energy vehicles," said Yuan Bo, director, Asian Institute under Ministry of Commerce Research Institute.

FTA 3.0 between China, ASEAN to further expand cooperation in emerging fields: experts

An increasing number of seniors are embracing a digital lifestyle by sharing tips, advice, and life lessons online, helping them gain confidence and enjoy their golden years to the full while redefining the narrative around aging.

Among those who are making a big impression in the internet age is 63-year-old Tang Shouping, a retired physics teacher who has turned his teaching skills into a successful online venture.

After inspiring students in the classroom for close to 40 years, Tang is now appealing to a whole new generation of young learners in the digital age, producing over 900 engaging physics experiment videos that showcase his creativity and imagination.

"Seeing these videos can inspire children's interest in learning, while the teaching aids provide teachers with better instructional support," said Tang's wife, Zhou Kanghua.

Another inspiring figure among the elderly online community is 71-year-old retired doctor Wu Xiaoli, who recognized a growing need among her peers to learn how to navigate the often complex intricacies of the digital landscape.

Starting from scratch, Wu meticulously documented her learning journey, filling three notebooks with step-by-step instructions to guide others online.

"Because I don't have a great memory, I've written down this many notes, and gradually I've learned," said Wu.

In order to teach elderly individuals how to better use smartphones and enjoy social media, she has adopted a straightforward approach and fills her lessons with clarity and enjoyment.

Recognizing the need to embrace technology to connect with more people, share information, and enjoy a fuller life while also ultimately reshaping perceptions of aging in contemporary society, Wu emphasized the importance of lifelong learning.

"To live a high-quality life, I believe it's essential to keep on learning as long as you live," she noted.

China's elderly re-invigorate retired life, embrace digital age by producing short videos