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10/24, 10:05 PM (Source: TeleTrader)
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China eases procurement rules ahead of CPTPP

China will be loosening its rules regarding the access to government procurement deals granted to foreign companies, as a part of its bid to join CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership), as announced on Sunday.

The official announcement comes after the finance ministry told the local governments that foreign-owned companies' "right to participate fairly in government procurement must be assured," earlier this month.

The move is seen as a preparation for the upcoming negotiations regarding China's entry into the CPTPP and a signal of the country's willingness to open up its economy and meet the conditions set by the Partnership.

Breaking the News / TT