China, ROK actively preparing for free trade agreement talks: official

Updated 2017-12-14 22:32:11 Xinhua

China and the Republic of Korea (ROK) are preparing for the second round of talks on a bilateral free trade agreement (FTA) that has been effective for nearly two years and generated mutual benefits.

The negotiations, which are under active preparation, will be focused on services and investment, and will result in a negative list, said Gao Feng, spokesperson for the Chinese Ministry of Commerce, at a press conference held in Beijing Thursday.

"China is willing to expand economic and trade cooperation with the ROK to jointly build and advance reciprocal bilateral ties," Gao said.

Taking effect at the end of 2015, the China-ROK FTA was designed to boost trade and bolster economic growth amid a lackluster global recovery and rising protectionism. The two sides have carried out three waves of tax reductions.

So far, there have been 63,000 ROK-funded projects in China and more than 71.6 billion U.S. dollars of investment by ROK businesses.

The two countries still have huge potential in collaboration under the Belt and Road Initiative, trade facilitation and industrial capacity, Gao said.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58January 22 2018 22:17:09

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16January 22 2018 22:17:09

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18January 22 2018 22:17:09

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords