China is hoping to galvanise two regional trade proposals — the Regional Comprehensive Economic Partnership (RCEP) and the Free-Trade Agreement of the Asia-Pacific (FTAAP), following the formal exit of the United States from the Trans Pacific Partnership (TPP).
Chinese President vowed to upgrade sections of the FTA and encourage further innovation, as well as expand the scale of cooperation in the finance and insurance fields.
With the Regional Comprehensive Economic Partnership agreement, China has an opportunity to be an agenda-setter and demonstrate leadership on global trade.