China will actively participate in the rule and standard-setting process of multilateral, bilateral and regional trade and economic cooperation to inject vitality into the global economy this year, the country’s head of Customs said.
In addition to supporting the development of the fast-growing freight train services between China and Europe and new international land-sea trade corridor, the nation will speed up negotiations on the new strategic framework for China-EU Customs cooperation and China-EU sanitary and phytosanitary cooperation with the European Union, said Ni Yuefeng, minister of the General Administration of Customs.
The GAC will complete preparations for the implementation of the Regional Comprehensive Economic Partnership agreement on time this year, he said, adding the administration will prepare well for its part in future talks on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
China’s total imports and exports rose 17.2 percent to reach 146.37 trillion yuan ($22.57 trillion) during its 13th Five-Year Plan period (2016-2020), according to the latest trade data released by the GAC.
The country emerged from global economic and trade challenges in 2020 as the world’s only major economy to have registered positive growth in foreign trade in goods.