China has officially ratified RCEP deal: Commerce minister

The Chinese government has officially ratified the Regional Comprehensive Economic Partnership (RCEP) agreement, Minister of Commerce Wang Wentao said Monday.

Containers are seen at the Pasir Panjang container terminal in Singapore on Aug. 17, 2020. (Photo by Then Chih Wey/Xinhua)

Some member countries are also accelerating their procedures, and it is hoped that relevant countries can speed up their progress and finally reach the threshold of entry into force, Wang told reporters on the sidelines of the annual national legislative session.

Ratifications of six ASEAN member countries and three non-ASEAN member countries are needed for reaching the threshold, and the sooner the agreement enters into force, the sooner the people of the member countries will be benefited, he said.

The RCEP, the world's largest free trade agreement, was signed in mid-November 2020 by 10 ASEAN member countries and China, Japan, the Republic of Korea, Australia and New Zealand.