Focus on Arts and Ecology

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China says it will promote more free trade agreement negotiations

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May 13, 2022 

China on Thursday said it will promote more free trade agreement negotiations (FTA), as the country has seen nine new FTAs signed in the past decade.

"Since 2012, we have signed nine new free trade agreements with foreign countries, including Switzerland, South Korea and Australia. In most of the agreements, more than 90 percent of the goods enjoy zero tariffs," said Wang Shouwen, vice minister of commerce, at a press briefing.

Not only were more FTAs signed in the past 10 years, but the efficiency of China's customs clearance also improved, the vice commerce minister said.

According to Wang, the overall customs clearance time for imported goods took about four days in 2017, but it takes less than a day and a half now. 

(Sources: China Report)

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