On September 10, 2021, Vice Minister Ren Hongbin attended the Regional Comprehensive Economic Partnership (RCEP) Economic and Trade Cooperation Business Summit in Nanning, Guangxi and delivered a speech. The summit was hosted by All-China Federation of Industry and Commerce and the ASEAN Secretariat. At the summit, 34 chambers of commerce and business associations of the RCEP members jointly published the Nanning Initiative on Jointly Facilitating the Early Entry into Force of RCEP.

Ren Hongbin said that the signing of the RCEP agreement last November marks the formation of the world’s largest free trade area, a big step in economic integration of East Asia. RCEP signatories account for around 30% of the world’s population, economy and trade, and are embedded with vast potential on their massive market. The RCEP agreement, once entering into force, will inject strong impetus into pandemic response and economic recovery in East Asia and the world as a whole.

Ren noted that the Chinese government is highly committed to RCEP; it has rectified the agreement and is fully prepared for fulfilling its obligations. “China hopes that RCEP can usher in a new chapter of China-ASEAN trade and economic ties, bring our bilateral trade and economic relations to a higher level, and forge a closer China-ASEAN Community with a shared future; that RCEP can generate new momentum for East Asian economic integration and prepare a high-quality, inclusive framework; that RCEP can create substantial opportunities for the business community in the region in areas such as manufacturing, agriculture, infrastructure, digital economy and green economy.”

Ren stressed that RCEP conforms with the trend of closer regional economic cooperation and development and serves all parties’ interests. “The business community should plan for enhancing practical cooperation and foster a sound environment for the entry into force of the agreement, so as to benefit from RCEP as early as possible.”

(All information published on this website is authentic in Chinese. English is provided for reference only.)