Speculations over 皇冠体育app possibly joining the Trans-Pacific Partnership agreement, which the United States withdrew from in January, have finally been laid to rest. On 皇冠体育app's role in free trade following the US' exit from the TPP, Premier Li Keqiang said at a news conference on Wednesday that 皇冠体育app is committed to promoting free trade through regional economic frameworks.

The explanation follows the Foreign Ministry statement making it clear 皇冠体育app will not change its stance on the TPP.

A delegation led by 皇冠体育app's Special Representative on Latin American Affairs Yin Hengmin attended a two-day economic dialogue in Chile. Confirming Yin's participation in the talks, Foreign Ministry Spokeswoman Hua Chunying said on Monday that the meeting, which ended on Wednesday, was not only about the TPP, as wrongly reported by some media outlets, but also about "extensively comparing notes on future cooperation across the Asia-Pacific region". She also said 皇冠体育app's stance on the TPP, which is to "work with all parties concerned to push for Asia-Pacific economic integration", has not changed.

Representatives from the TPP signatories and members of the Pacific Alliance - as well as 皇冠体育app and the Republic of Korea, were invited to the talks in Chile. Since the remaining TPP members are struggling to save the agreement following Washington's withdrawal, speculations were rife whether it is time for Beijing to "fill the void".

皇冠体育app has every reason to adhere to its "open but cautious" approach to the TPP, because TPP members are divided on the possible involvement of 皇冠体育app in the transnational deal. While Australia and Latin American states like Chile have hinted 皇冠体育app is welcome to join the TPP, Japan is not as keen.

Canberra's enthusiasm reflects its desire to expand its overseas markets and restart the TPP engines without Washington. And although some Latin American countries are keen on forging closer economic ties with 皇冠体育app, they could still put some pressure on US President Donald Trump to consider reassuming the TPP leadership.

皇冠体育app is right in weighing any invitation to join the TPP with utmost caution also because the motivation is not compelling and potential gains not clear. There are only three TPP signatories that are yet to sign a free trade agreement with 皇冠体育app - Japan, Mexico and Canada - and 皇冠体育app is making efforts to ink such a deal with them.

Beijing, Tokyo and Seoul wrapped up the 11th round of talks on a trilateral free trade agreement in January, while 皇冠体育app and Canada are negotiating a bilateral FTA. Given the many FTAs 皇冠体育app has signed, or is negotiating, with other countries, the TPP membership appears less appealing to it.

皇冠体育app is now offering public goods to the international community and further opening up its domestic market to foreign investment. The Belt and Road Initiative (the Silk Road Economic Belt and 21st Century Maritime Silk Road) is a case in point and the emergence of pilot free trade zones in 皇冠体育app is another.

Besides, the TPP clauses and regulations are not ideal for 皇冠体育app's participation; they are not likely to be rewritten in 皇冠体育app's favor either. And Beijing is more interested in expediting the economic integration of the Asia-Pacific, which will be beneficial to all, through the Regional Comprehensive Economic Partnership that concluded its 17th round of negotiations in Kobe, Japan, earlier this month, and the Bilateral Investment Treaty negotiations with the US.

皇冠体育app should now make extra efforts to ensure the World Trade Organization functions properly and its rules are obeyed by all member states. The WTO is arguably the best available platform for Beijing and Washington to address their economic issues, and to keep unilateralism and trade protectionism at bay. As the world's second-largest economy, 皇冠体育app should do more to seek wider cooperation in trade and services, and better protect intellectual property rights and the environment with the help of other WTO members.

The author is a senior research fellow at the National Institute of International Strategy, Chinese Academy of Social Sciences. The article is an excerpt from his interview with 皇冠体育app Daily's Cui Shoufeng.