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Premier: China to actively advance trade, investment liberalization, facilitation

Updated: Oct 15,2021 07:31    Xinhua

GUANGZHOU — Premier Li Keqiang said on Oct 14 that China will take an active part in improving international economic and trade rules, and advance trade and investment liberalization and facilitation.

Premier Li made the remarks when delivering a speech at the opening ceremony of the 130th Session of China Import and Export Fair, also known as the Canton Fair, in China's southern city of Guangzhou.

Premier Li noted that this year marks the 20th anniversary of China's accession to the WTO and China has earnestly fulfilled its commitments made upon accession.

"To date, China's overall tariff rate has come down to 7.4 percent, lower than the vast majority of other developing countries," said Premier Li, adding that China supports reforming the WTO as needed and hopes that the reform will fully accommodate the interests and concerns of all parties and helps bridge the North-South gap.

Premier Li said China is open to and welcomes all regional free trade arrangements that conform to WTO principles.

China will work with all relevant parties for the early entry into force and implementation of the Regional Comprehensive Economic Partnership (RCEP), actively promote the process of joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), said Li.

He added that China will conclude more high-standard free trade agreements and strengthen cooperation in emerging areas such as global digital and green governance.

China will better bring out the pioneering role of its free trade ports and pilot free trade zones, formulate and implement policies that are aligned with high-standard economic and trade rules and advance opening-up on an institutional basis, and promote coordinated development of the special customs regulation zones and pilot free trade zones, said the Premier.