China's accession to DEPA broadens opening-up in digital trade

China's accession to the Digital Economy Partnership Agreement or DEPA, will broaden DEPA's role in developing international rules for digital economy, said the Ministry of Commerce on Monday.

China welcomes the DEPA members' decision to enable the country to establish a working team to push its accession to the digital agreement, said a spokesperson from the ministry in an online statement.

Signed by New Zealand, Singapore and Chile in June 2020, the DEPA coordinates policies on the digital economy, and is the first of its kind in the world. It covers almost all key sectors of the digital economy, ranging from facilitation of commerce and trade to personal information safety.

The commerce ministry said China will be fully prepared to join DEPA for the next step, carrying out substantive negotiations with DEPA members and continuing to advance its accession process.

As the second largest digital economy in the world, China is accelerating its digital development and expanding in areas such as rules, regulations and standards, said the ministry.

The statement said that China's application for the DEPA membership fully shows its willingness to be compatible with high-standard international digital rules, and reinforce global cooperation in the field of digital economy. It is an important move for the nation to promote opening-up at a higher level.

Apart from helping establish an integrated digital trade market with common rules and compatible standards with other members, China's accession to the DEPA will expand mutually beneficial cooperation with other countries in emerging digital businesses, according to the ministry.