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"Canceling an item or relaxing a regulation on the negative list showcases China's efforts to further open up a new field, which can continuously attract more international resources to flow into the nation's sprawling manufacturing industry," Wang said.

"China did this to safeguard its territory and sovereignty, the basic principles of international law and the basic norms of international relations, as well as justice," he said. "China believes that the right cannot be wronged, and justice will prevail."

"China is resorting to SOE mergers and acquisitions to create more global powerhouses with competitive edge and to further the supply-side structural reform," said Yu Xubo, president of COFCO Corp, the country's biggest agricultural products supplier by revenue.

"CPTPP has become more important because of the growing threats to the effective operation of the World Trade Organization rules," New Zealand Trade Minister David Parker said on Wednesday.

"By doing so, we would have enough measures and resources to defend against the volatility of the global economy in the post-COVID-19 era and speed up our economic recovery as a whole," he said.