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China has launched negotiations with the governments of Singapore and Pakistan to upgrade existing FTAs, Qian added.

China conducted five large-scale tariff reductions in 2018, including starting to grant zero-tariff rates to imported cancer treatment drugs in May, cutting import tariffs on vehicles and auto parts in 218 tax items starting on July 1, and lowering the import duties on 1,585 tax items in the categories of mechanical and electrical equipment, spare parts, raw materials and other industrial products from Nov 1, data from the Ministry of Commerce show.

China has always supported moves by the DPRK and ROK to improve relations, Xi told his ROK counterpart, Moon Jae-in, in a phone call.

China has a huge market and is a leading manufacturer, while Israel is one of the leading nations in innovation. In recent years, the two nations have stepped up hi-tech cooperation, mainly focusing on information technology, life sciences and healthcare, cyber security, energy, advanced manufacturing and robotics.

China has been a major proponent of multilateral free trade, noted Jayant Menon, a leading economist of the Asian Development Bank (ABD), in a recent interview with Xinhua.