The 22nd APEC Economic Leaders' Meeting. [File photo]

8. Free-trade pacts strengthen bilateral ties with nations

November saw the leaders of the 21 economies of the Asia-Pacific Economic Cooperation forum meet in Beijing, with accelerating economic ties across the region topping the agenda. In a historic step, the meeting endorsed a China-backed roadmap for a vast free-trade area across the region, known as the "Free Trade Area of the Asia-Pacific". A two-year study into the establishment of the FTAAP has now been launched.

China also completed two further bilateral free-trade agreements with Asia-Pacific partners in November. The first was with South Korea signed on the sidelines of the APEC meeting on Nov 10. A week later, a trade agreement with Australia, which had been in discussion for close to a decade, was signed during President Xi Jinping's visit to the country.

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