China introduces guidelines on accelerating FTAs

Beijing, Dec 17 (IANS) To improve its free trade areas (FTAs), China will step up cooperation with neighbouring countries and improve the support and evaluation systems, according to guidelines published by the State Council on Thursday.

By speeding up FTA negotiations with neighbouring countries and lifting the level of trade liberalisation in existing FTAs, China aims to have at least the same proportion of foreign trade with its FTAs partners as most developed and emerging economies do, the document said.

Gradually, the FTA network will expand from neighbouring countries and countries along the Belt and Road initiative to most emerging economies, major developing countries, major regional economic groups, and parts of the developed world, Xinhua news agency reported.

Specifically, the guidelines encourage the opening up of the service sector including finance, education, culture, and health care, and relaxes investment access rules in child and elderly care, architectural design, accounting and auditing, logistics, and e-commerce.

The guidelines also introduce support mechanisms for FTA construction.

The third-party evaluation system will be improved for decision-making and risk control while laws on foreign investment will be updated.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here