China calls for faster economic integration in East Asia

On Thursday, Premier Li Keqiang called on East Asia to boost regional integration and build the East Asian Economic Community while accelerating negotiations on the Regional Comprehensive Economic Partnership and China-Japan-Republic of Korea free trade zone.

He made the statement at the 21st ASEAN-China, Japan and Republic of Korea (10+3) leaders' meeting along with Japanese Prime Minister Shinzo Abe, ROK President Moon Jae-in and leaders of the 10 ASEAN members in Singapore.

Li said the 13 countries should firmly safeguard multilateralism and free trade against rising protectionism. The RCEP negotiations will be moved forward in the last stage and the China-Japan-ROK free trade zone is being discussed in a smooth way, he said. The two free trade mechanisms should be pushed forward in a balanced way to defend rules-based multilateral trading systems and provide a stable, free and law-based environment, he said.

Leaders at the meeting agreed to conclude negotiations on the RCEP as soon as possible and increase the usage of their own currencies, according to a news release.

The leaders also consented to expand the cooperation model of China-Japan-ROK with a fourth country, and strengthen collaboration in smart city, e-commerce, the financial sector, agriculture, poverty relief, environmental protection, education and other fields.