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BEIJING, Jan. 24 (Xinhua) -- China said Tuesday that it was committed to the process of Asia-Pacific economic integration in a spirit of openness, inclusivity and transparency, despite the United States quitting the Trans-Pacific Partnership (TPP).

""China will forge ahead with the negotiation of the Regional Comprehensive Economic Partnership (RCEP) and the construction of the Free Trade Area of the Asia-Pacific (FTAAP) so as to add new impetus to regional and global economic development,"" said Foreign Ministry spokesperson Hua Chunying at a daily press briefing.

U.S. President Donald Trump Monday signed a memorandum ordering withdrawal from the Trans-Pacific Partnership (TPP).

The TPP, a free trade pact between 12 Asia-Pacific countries, was formally signed by ministers last February after more than five years of negotiation. China is not a member of the TPP.

Hua said that China had always called for an open, transparent and mutually beneficial regional free trade arrangement and believed trade rules should be made through neogtiation with all parties on an equal footing.

""The Asia Pacific region should continue to exert its role as the engine of global economy under the current economic downturn and establish an open economy,"" said Hua.

The RCEP covers 16 countries, including 10 members of the Association of the Southeast Asian Nations and their regional trading partners, China, Japan, Republic of Korea, Australia, New Zealand and India.

The FTAAP was launched with a roadmap at the 2014 APEC Summit in Beijing. A collective strategic study was subsequently conducted and the result approved at the APEC meeting in Lima.

By encompassing all 21 APEC economies in trade liberalization, the FTAAP will become the world's largest free trade zone, covering 57 percent of the global economy and nearly half of world trade.

When asked whether China would play the role of leader on the issue, Hua said ""it is more precise to use the word 'responsibility' rather than 'leader.'""

She said that from the G20 Hangzhou Summit to the APEC meeting in Lima and to the Davos Forum last week, China had made constant promises and concrete efforts.

""China is willing to work with all other countries to solve the problems facing the world today so as to shoulder its due responsibility to promote the common development and prosperity of the world,"" she said.

" In each session of the Olympic Games Kamalei Correa Jersey , the athletics of track and field and the swimming contribute almost half of the gold medals for the U.S. A.. but this is games only be held once every four years. Actually, the real games which attract people' eyes are several kinds of ball games, such as golf, tennis, basket ball, football, baseball and ice hockey. 2007 Forbes the world's most influential men and women sports stars are golfer Tiger Woods and tennis star Maria Sharapova.

After Beijing Olympic Games, the rich list which are monopolized by ball stars may come to an end. Michael Phelps is expected to become the richest professional swimming athlete of the history.

Commercial value increased with the number of gold medals

In the rich list of the sports stars, there is always ball hot item which on the top. According to Forbes's Top Sports rich list, the top surface of it is the golfer Tiger Woods (100 million U.S. dollars), football star David Beckham (33 million U.S. dollars) and the famous basketball Bryant (33 million U.S. dollars).

However, August of Beijing, in a swimming stadium be named as the "Water Cube" , a "non-popular item," a sports tycoons will catch up with Woods. This is Michael Phelps, appraised as "Alien" by Ian Thorpe. a famous Australian swimming athlete.

Up to yesterday, in Beijing Olympic Games, Phelps has won all five gold medals of his participation in projects. 2004's six gold medals were Counted in, he has become the athlete who own most Olympic gold medal in the history.

According to the Forbes report, since 2004, the average annual advertising revenue is 16 million U.S. dollars. Phelps's strong capacity of winning gold medal, marking his commercial value will also line up. According to the Advisory Group expects who are concentrate on brand management, in Beijing Olympic Games, Phelps's personal income will be increased to 30 million U.S. dollars in the short term, reaching the level of David Beckham. Sports regal with a simple life

Compared with Tiger Woods, David Beckham's fame and wealth, Phelps should be more honoured. As a swimmer, he don't have their own entertainment time like his peers did. He insist on training at least six hours a day, seven days a week, uninterrupted, even on Christmas. These hard work make him well-known after one battle in Athens and then to Beijing's brilliant legendary experience.

Phelps's success story is a typical "American dream", so loved so deeply by the Americans. The IOC had no choice but to obey the NBC, modify the swimming finals to morning in order to comply with the "American time".

At present, Phelps' speak brands are as follows: Visa, Speedo, Omega, AT & T Wireless, a food company PowerBar, Kellogg's, RosettaStone, PureSport, etc. After a few seconds of his 10th gold medal, Visa company released a TV ad, commemorated he as the most Olympic gold medal athletes.

Now, Phelps has been a rich man, but he said that he is not so concerned with their own money at a news conference. Perhaps the wealth is enough for him, from a family which is not rich.

Originally Posted: Danmex.org Author: Angulo Fu

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A professional studies on Chinas import and export trade. Find qualified Chinese products and global trade offers, please browse China Business Daily.

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