China's reform measures in some FTZs effort to align with CPTPP rules

The Asian giant will establish institutions and oversight models aligned with relevant rules to show its willingness and capability to join high-standard international economic and trade agreements, he told a recent press conference.

Such reform measures will also support the country to join these agreements, Chen was quoted as saying by an official news agency.

A circular was released by China’s State Council last week to deepen 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, the circular, which focused on six major fields, said.

China’s first FTZ was set up in Shanghai in 2013, and its number of FTZs has since increased to 21.

Fibre2Fashion News Desk (DS)