China hails RCEP trade pact signing

China on Monday hailed the signing of the Regional Comprehensive Economic Partnership (RCEP) as a milestone in regional economic integration.

Speaking at a daily news briefing in Beijing, Foreign Ministry spokesperson Zhao Lijian said the RCEP will "strongly promote regional economic recovery" against the backdrop of the coronavirus pandemic.

The trade deal was signed virtually on Sunday on the sidelines of the annual summit of the 10-nation Association of Southeast Asian Nations (ASEAN).

The agreement sets up the world's largest trading bloc and encompasses nearly a third of all economic activity.

It includes the 10 ASEAN nations as well as China, Japan, South Korea, Australia and New Zealand.

In response to reports US President Donald Trump plans new hard-line moves against China in the remaining weeks of his term, Zhao said the two countries should manage their differences "on the basis of mutual respect, expand cooperation on the basis of mutual benefit".

Zhao also called for "restraint" following military clashes between India and Pakistan along the Line of Control (LOC) in Jammu and Kashmir.