China submits papers for CPTPP accession after deciding about reforms
19 Jun 23 1 min read
Insights
- China has submitted documents for its accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
- It has exhaustively assessed all CPTPP clauses and sorted out the reform measures and laws and regulations that need to be modified.
- It has relaxed the access of foreign investment in the domestic manufacturing industry.
He was addressing the Asia-Pacific Economic Cooperation China CEO Forum in Beijing.
China has decided to align with CPTPP standards and implemented reforms in related fields. Its accession will benefit all CPTPP members and add fresh impetus to trade and investment liberalisation 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," he weas quoted as saying by official media outlets.
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China will next reasonably reduce the negative list of foreign investment access, introduce a negative list for cross-border trade in services at free trade zones, and a similar nationwide negative list, he added.
Fibre2Fashion News Desk (DS)
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