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China expects to deepen cooperation and jointly build a closer community with shared interests with the Regional Comprehensive Economic Partnership (RCEP) members, said Vice Premier Hu Chunhua on Saturday.

Hu, also a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks when delivering a speech at the opening ceremony of the RCEP ministerial conference which was held in Beijing.

A proposed free trade agreement (FTA) involving the largest population in the world and with huge potential, the RCEP is of great significance to promoting the industrial division and economic integration, and enlarging development room for countries and improving the well-being of the people in the region, said Hu.

China stands ready to work with other RCEP members to enhance the confidence to conclude the negotiation within this year, Hu said, adding that China expects to further deepen mutually beneficial cooperation with other RCEP members and jointly build a closer community with shared interests through the RCEP.

The RCEP is a proposed FTA between the 10 member states of the Association of Southeast Asian Nations (ASEAN) and the six FTA partners of ASEAN—China, Japan, Republic of Korea, Australia, New Zealand and India.