China has signed 16 free trade agreements (FTAs) involving 24 countries and regions as of 2017, according to data released by the National Business Conference on Dec. 26, Xinhua-run Economic Information Daily reported.

The country is accelerating the construction of Free Trade Zones (FTZs). In 2017, four FTAs have been signed and four feasibility studies have kicked off.

The year of 2018 will be a harvest year for the construction of FTZs, with 10 FTZs under negotiation and 10 FTA joint feasibility studies to be pushed forward, said Zhang Shaogang, Director-General of the Department of International Trade and Economic Affairs under the Ministry of Commerce.

A new round of talks on the Asia-Pacific Trade Agreement (APTA) will be further promoted, in a bid to build a high-standard FTZ network with global-oriented, Belt and Road countries.

Talks on the Regional Comprehensive Economic Partnership (RCEP) have made substantial headway, with 20 rounds of formal negotiations and ministerial-level talks having been held since the talks kicked off in 2012.

The RCEP negotiations are being steadily pushed forward, Zhang disclosed, adding that talks on market access and investment have obviously progressed.