Home breadcru News breadcru Policy breadcru China to put to trial some CPTPP rules in pilot free trade zones

China to put to trial some CPTPP rules in pilot free trade zones

09 Feb '22
1 min read
Pic: Shutterstock
Pic: Shutterstock

China will put to trial part of the rules of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in some of its pilot free trade zones, according to the customs authority. It will also actively facilitate the construction of platforms for opening up and promote innovation of customs supervision mechanisms for those zones, to be replicated elsewhere later.

In 2022, efforts will be made to implement a customs supervision framework for the Hainan Free Trade Port and support the construction of the Guangdong-Macao In-depth Cooperation Zone in Hengqin, southern China's Guangdong Province, said Ni Yuefeng, head of the general administration of customs.

Despite mounting uncertainty and protectionism globally, China has remained firm in opening up its super-sized domestic market and safeguarding true multilateralism with concrete efforts, Chinese state-controlled media reported.

ALCHEMPro News Desk (DS)

Get Free Weekly Market Insights Newsletter

Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!