China’s Ministry of Commerce announced on November 1 that China has officially submitted an application to join the Digital Economy Partnership Agreement (DEPA).
Signed between Singapore, Chile and New Zealand in June 2020, DEPA designs rules for international digital economic activities and exchanges, covering 16 fields, including business and trade facilitation, data use, emerging technologies and innovation, and cooperation between small businesses.
DEPA entered into force on January 1, 2021 and is open to any country. Besides China, South Korea has applied and Canada has expressed an intention to join.
Analysts said that China’s application shows China’s willingness to participate in designing the world’s economic rules which is helpful for the country to increase its global influence and further expand opening-up.
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