On September 26-27, the first meeting of China-Mongolia FTA Joint Feasibility Study was successfully held in Ulan Bator. Both delegations exchanged opinions on their own free trade policies and practices. They also discussed and passed documents on the work scope, and had in-depth exchanges on ideas about core issues such as study approaches, contents, time schedule and division of labor. Many consensuses have been reached. Under the joint efforts of both sides, active progress has been achieved and the solid foundation has been laid so that the Joint Feasibility Study could be concluded as soon as possible.

In May 2017, Minister of Commerce Zhong Shan and Munkh-Orgil, Mongolia's Minister of Foreign Affairs back then, signed memorandum of understanding, announcing to launch China-Mongolia FTA Joint Feasibility Study. Mongolia is an important economic and trade partner of china, and the bilateral trade volume reached US$6.37 billion in 2017, up 38% year on year.