The second meeting of China-Mongolia Joint Feasibility Research on Free Trade Agreement was held on February 14 in Beijing. The two sides reached an agreement on the outline of the joint feasibility research report and made in-depth exchanges on the key focus of all areas, economic impact analysis and follow-up work arrangements.

In May 2017, during the Belt and Road Forum for International Cooperation, Chinese Minister of Commerce Zhong Shan and Mongolian Minister of Foreign Affairs Tsend Munkh-Orgil jointly signed the memorandum of understanding and announced to launch the joint feasibility research on FTA. Mongolia is an important economic and trade partner of China. In 2018, the bilateral trade volume reached US$7.99 billion, up 24.7% year on year.