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Creating regional free trade zones in Asia-Pacific top priority — Chinese official

Agreement on common free trade zone in the whole region would present an alternative to the Trans-Pacific Partnership project promoted by the US

© AP Photo/Eugene Hoshiko

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China to open more economic sectors for foreign investment, says premier

BEIJING, March 5. /TASS/. China plans to create several regional free trade zones in 2015, Chinese State Council premier Li Keqiang said Thursday at the 3rd session of the National People’s Congress of the 12th convocation.

"We will have to protect the international trade system. We intend to speed up creating several free trade zones, facilitate the process of economic globalization," the official said.

Chinese strategy of creating integrated trade structures in the Asia-Pacific aims at reaching agreement on common free trade zone in the whole region, which would present an alternative to the Trans-Pacific Partnership (TPP) project promoted by the US.

"We will try to sign an agreement as soon as possible on free trade zone between China and South Korea, China and Australia, step up negotiations on free trade zone in the format China-Japan-South Korea. We will also try to make an agreement on creating a free trade zone between China and ASEAN [Association of Southeast Asian Nations] in the new format," he added.

Around 3,000 delegates participate in the State Council session. They will work out measures on sustaining the country’s development in the conditions of slowing economic growth and consider a draft law on fighting terrorism, which has already drew criticism from the US.

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