The Chinese government released its third policy paper on Latin America and the Caribbean on Wednesday, aiming to further advance the development of China-LAC relations, Assistant Foreign Minister Cai Wei said.

Following the release of the first and second policy papers in 2008 and 2016, respectively, this marks the first time in nine years that China has issued such a policy paper.

The document comprehensively elaborates on China's policy toward Latin America and the Caribbean, elaborates on China's policy proposals for exchanges and cooperation in over 40 areas in the next stage, and actively addresses the cooperation needs and concerns of LAC countries in trade, investment, finance, technological innovation, climate change, and other fields.

It fully demonstrates China's high regard for China-LAC relations and its sincere willingness to promote common development between the two sides, Cai said.

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China is willing to work with LAC countries, using the release of the document as a springboard to further advance the construction of a China-LAC community with a shared future, better serve the respective development of both countries, and bring greater benefits to the people, he added.