China open to all free trade arrangements

China is open to all free trade arrangements as long as they are open and transparent, and is keeping tab on Trans-Pacific Partnership (TTP) and Transatlantic Trade and Investment Partnership (TTIP), Chinese Commerce Minister Gao Hucheng said Saturday.
The Trans-Pacific Partnership (TTP) and Transatlantic Trade and Investment Partnership (TTIP) involve parties that account for 60% of the world's gross domestic product Gao said in a statement carried by Chinese news agency (Xinhua).
Once the agreements of TPP and TTIP are reached, they will have major and far-reaching impacts on the world, Gao said.
China is open to all the free trade arrangements that are beneficial to the world's trade liberalization and regional economic integration, as long as they are open and transparent, the statement added.