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China submits papers for CPTPP accession

21/06/2023    110

China will also reasonably reduce the negative list of foreign investment access and launch free trade pilot zones, among others.

The Chinese government has submitted the documents for China’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, and China has both the willingness and capability to join the CPTPP, a senior government official said on Saturday.

China is advancing the process of joining the CPTPP. The government has conducted in-depth and comprehensive research and evaluation on more than 2,300 articles of the CPTPP, and sorted out the reform measures and laws and regulations that need to be modified for China’s accession to the CPTPP, Vice-Minister of Commerce Wang Shouwen said during the Asia-Pacific Economic Cooperation China CEO Forum held in Beijing.

China will also reasonably reduce the negative list of foreign investment access, launch free trade pilot zones, and launch a nationwide negative list of cross-border service trade

China has taken the initiative to align with the high standards of the CPTPP, and implemented a pioneering approach of reform and opening-up in related fields. China’s accession will bring benefits to all members of the CPTPP and add new impetus to trade and investment liberalization in the Asia-Pacific, Wang said.

“China will continue to open its doors for development and actively promote high-level opening-up. China has basically relaxed the access of foreign investment in the manufacturing industry, and is comprehensively and orderly opening up the service sector,” Wang said.

Next, China will also reasonably reduce the negative list of foreign investment access, launch free trade pilot zones, and launch a nationwide negative list of cross-border service trade.

Source: Asia News Network