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China moves to align with CPTPP rules through FTZ reforms

Xinhua | July 3, 2023


This aerial photo taken on Oct. 23, 2022 shows a view of the Dongfang Lingang Industrial Park in south China's Hainan Province. (Xinhua/Pu Xiaoxu)

China's lastest reform measures in some free trade areas are a preliminary attempt to actively align with the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) rules, a commerce ministry official said on Friday.

Chen Chunjiang, assistant minister of commerce, told a press conference that China will establish institutions and oversight models that are aligned with relevant rules to show its willingness and capability to join high-standard international economic and trade agreements.

Such reform measures will also provide experience and support for the country to join these agreements, according to Chen.

The State Council on Thursday released a circular on deepening reforms in some eligible free trade zones (FTZs) and the Hainan Free Trade Port to align with high-standard international economic and trade rules amid efforts to boost institutional opening-up.

The eligible FTZs are located in Shanghai, Guangdong, Tianjin, Fujian and Beijing, according to the circular.

It focused on six major fields, including trade in goods, the temporary entry of business personnel, and risk control.

China established its first FTZ in Shanghai in 2013, and its number of FTZs has since increased to 21.