Chinese customs to trial some CPTPP rules in pilot free trade zones
Source: Xinhua
Chinese customs will trial part of the rules of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in some of China's pilot free trade zones, according to the country's customs authority.
Along with implementing CPTPP rules, China will actively facilitate the construction of platforms for opening up, and promote innovation of customs supervision mechanisms to be rolled out in the pilot free trade zones and later replicated elsewhere, Ni Yuefeng, head of the General Administration of Customs, said at a work conference.
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, among others, said Ni.
Over the years, China has established several pilot free trade zones across the country as a testing ground for new trade policies and a platform for overseas products and services to enter the country.
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.
In 2021, China filed applications to join the CPTPP and the Digital Economy Partnership Agreement. The Regional Comprehensive Economic Partnership pact, the world's largest trade deal, signed by 15 Asia-Pacific countries including China, entered into force in January 2022. ■
First, please LoginComment After ~