On 4th February, the signing ceremony for the Trans-Pacific Partnership (TPP) Agreement was held in Auckland, New Zealand.

ANBOUND's scholars are of the view that, once TPP comes into force, an enormous economic circle based on new trade rules, accounting for 40% of global GDP will be formed.

Once TPP comes into force, it will certainly have negative impacts on China’s economy and this will increase China’s transaction cost in international trade.

However, China has a variety of means to "hedge" the risks, not only that China should respond positively to TPP, but China should even join the TPP.