Regional economic cooperation initiatives should be open and inclusive, instead of discriminatory and exclusive, China's Ministry of Commerce said on Tuesday, reacting to the launch of the Indo-Pacific Economic Framework (IPEF) by U.S. President Joe Biden on Monday.  

"(Such initiatives) should promote economic cooperation and solidarity, not undermine and divide existing mechanisms," the ministry said on its website, adding that China has always been open to regional economic cooperation initiatives that meet the above criteria.

The framework was launched during Biden's visit to Japan. Besides the U.S., 12 nations joining the IPEF include Australia, India, Japan and South Korea, while China, the second largest economy in the world, is currently not on the list.

Besides visions of economic cooperation, the IPEF has not detailed any substantial benefits that it can provide to its signatories yet.