China will look to reach agreements with more nations as it strives to reduce dollar's dominance, officials say

China will step up the pace of its free trade negotiations this year as it seeks to build stronger trade ties with more partners and reduce the dominance of the United States' currency in the global trading system.

Zhang Shaogang, director-general of the department of international trade and economic affairs at the Ministry of Commerce, said China will launch FTA negotiations with Israel and initiate FTA feasibility studies with Colombia, India, Nepal, Maldives and South Pacific island nations like Fiji, Vanuatu and Papua New Guinea this year.