chapter  3
11 Pages

The characteristics and perspective of FTAs in China

WithYU HONG SUN

The development of FTAs in China Similar to Japan and Republic of Korea (hereinafter referred to as Korea), China was relatively late in starting a bilateral FTA policy. In the light of an increasing tendency toward regionalism, and competitive liberalization all over the world, China has also embraced regional strategies by using FTAs as a policy option after its accession to the WTO (World Trade Organization) in 2001. The Chinese government regards FTAs as a new platform to further open up to the outside world and speed up domestic reforms, an effective approach to facilitate integration with the global economy and strengthen economic cooperation with other economies, and a particularly important supplement to the multilateral trading system.