business

China open to joining CPTPP

BEIJING, Nov. 19 (Xinhua) — China will assume an open and positive attitude towards the idea of joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Ministry of Commerce (MOC) said on Thursday.

China welcomes any open, inclusive, and transparent regional free trade agreement that can help foster economic globalization and regional economic integration. It must, however, adhere to the principles of the World Trade Organization, MOC spokesperson Gao Feng told a press briefing.

The country will further advance institutional opening up, and it hopes that all sides can join hands in boosting trade and investment liberalization and facilitation to achieve win-win results, said Gao.

Effective since Dec. 30, 2018, the CPTPP is a trade pact among 11 countries, including Japan, Canada, Australia, Singapore, Chile, and Mexico, whose aggregate gross domestic product accounts for 13 percent of the world economy.

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