China is ready to sign up to free trade pacts with more countries in a bid to promote greater economic openness, Vice Premier Han Zheng said at the World Economic Forum on Tuesday
MOSCOW (Pakistan Point News / Sputnik - 21st January, 2020) China is ready to sign up to free trade pacts with more countries in a bid to promote greater economic openness, Vice Premier Han Zheng said at the World Economic Forum on Tuesday.
"China is prepared to conclude high-standard free trade agreements with more countries," the minister said at the economic forum in Davos, Switzerland.
He also promised that China would open up its market to foreign investors by further slimming down its list of restricted economic sectors and allowing operation of wholly foreign-owned businesses.
Han argued that his country did not need a trade surplus, in a jab at US President Donald Trump who declared a tariff war on Beijing last year to balance out trade with China.
China currently has 16 free trade agreements. Among its partners are the Association of Southeast Asian Nations, Singapore, New Zealand, Pakistan, Chile, Peru, Iceland, Switzerland, and more recently South Korea and Australia.
