The protocol upgrades the original agreement by improving seven existing chapters — rules of origin, customs procedures and trade facilitation, sanitary and phytosanitary measures, intellectual property, trade in services, temporary entry of business persons, and investment. It adds five new chapters on standards and conformity assessment cooperation, competition policy, electronic commerce, global supply chains, and environment and trade, according to a report by the China Central Television (CCTV).

　　Among them, the global supply chains chapter — covering such areas as encouraging multimodal transport and promoting foreign-trade logistics corridors and infrastructure — is an innovative step by the two sides under the FTA, underscoring their commitment to jointly safeguarding the stability and smooth flow of supply chains. The standards and conformity assessment cooperation chapter establishes a dedicated cooperation mechanism and sets out a list of intended areas of cooperation, which will provide a platform for mutual recognition of standards and related collaboration between the two countries and help lower trade costs for their enterprises, the MOFCOM statement said.

　　The two sides have also agreed to launch negative-list negotiations on trade in services and investment within two years of the Upgrade Protocol’s entry into force, to further raise openness in these areas between the two countries and continue unlocking the potential of their trade and investment ties.

　　The China-Peru FTA was signed in April 2009 and officially entered into force in March 2010. It was China’s first comprehensive FTA with a Latin American country, and has played a major role in boosting bilateral economic and trade ties. In 2025, bilateral trade volume between China and Peru reached $50.4 billion in 2025, nearly seven times the $6.4 billion recorded in 2009.