China and Singapore announced on Thursday that they have reached a protocol to further upgrade the China-Singapore Free Trade Agreement (CSFTA), according to news released by China's Ministry of Commerce on Thursday.

Under the protocol, the two countries committed to a negative-list model of services and investment opening up, which will provide a broader space for investors and service providers and expand cooperation in emerging fields such as the digital economy.

China and Singapore announced the negotiations on further upgrading the FTA on Dec. 8, 2020, three years ago.

They will step up the implementation of domestic legal procedures to ensure the early enforcement of the upgrade protocol.

The head of the International Department of the Ministry of Commerce said the protocol will lay a solid foundation for China to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.