China will promote trade deals regardless of TPP
China announced it will actively take part in bilateral as well as multilateral trade deals, with the objective of deepening reform and also opening up its economy, regardless of the direction the Trans Pacific Partnership and the China-backed Regional Comprehensive Economic Partnership might take.
The statement follows American President-elect Donald Trump telling that he would withdraw the USA from the multi-country TPP, which excludes China, thus putting RCEP - a rival pact, excluding America - as the front-runner for new free trade deals in the region.
When asked for clarification regarding the specifics of the planned reform, Commerce Ministry spokesman Shen Danyang told on Thursday that it was quite comprehensive and it included economic reform.
China is going to push for RCEP talks to be sped up to conclude soon, and with full respect for Association of Southeast Asian Nations’ core status in the deal.