Chinese Ministry of Commerce "Actively Considering CPTPP Membership"... Intention to Counter the US

[Image source=AP Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] On the 21st, the Chinese government once again expressed its willingness to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

According to the state-run Global Times and others, Gao Feng, spokesperson for the Chinese Ministry of Commerce, stated at a regular briefing that when asked about China's future plans following the conclusion of the Regional Comprehensive Economic Partnership (RCEP) and investment agreements with the European Union (EU), "We are considering joining the CPTPP."

Amid expectations that the newly inaugurated Joe Biden administration in the United States will use the CPTPP to contain China, it is interpreted that China intends to directly participate in the CPTPP to neutralize such attempts. China has expressed its intention to join the CPTPP since last year.

Spokesperson Gao stated that China plans to expand the scope of its free trade network not only through the CPTPP but also by pursuing free trade agreements with South Korea and Japan, the Gulf Cooperation Council (GCC, consisting of six countries on the Arabian Peninsula), Israel, and Norway. He also mentioned plans to further increase the proportion of zero tariffs in goods trade and to raise the level of free trade by allowing greater market access in services and investment sectors.

Meanwhile, Gao strongly opposed Sweden's decision to exclude Chinese companies such as Huawei from 5G network construction. He said, "If Sweden excluded Chinese companies citing national security without evidence, it violates the fundamental principles of the World Trade Organization (WTO) and infringes upon the legitimate rights and interests of Chinese companies," adding, "We firmly oppose this." He further warned, "China will take all necessary measures to firmly protect the legitimate rights and interests of Chinese companies."

This content was produced with the assistance of AI translation services.