The Research on the Necessity of Hong Kong,China's Participation in RCEP
The implementation of the Regional Comprehensive Economic Partnership(RCEP)started on 1 January 2022,which will give a tremendous boost to regional economic growth.RCEP provides free trade agreements covering trade in goods,trade in services,investment,and creating new rules for electronic commerce,etc.RCEP would extensively assist in shifting the regional supply chain and systems.Hong Kong SAR's participation in RCEP is necessary.Upon joining,Hong Kong can play a potential role in China's foreign trade and economic cooperation,and highlight its contribution to expanding openness and the development of Free Trade Zones(FTZs),which will help promote the internationalization of the Renminbi and improve the financial management mechanism of China's FTZs.With the support of the central government,the Hong Kong SAR government has submitted an application to join RCEP,It is recommended that Hong Kong join as soon as possible to align with the country's deepening opening-up policy and advance new energy into the Asia-Pacific economic recovery.
Hong Kong,ChinaRCEPChina's Free Trade ZonesOpening-up Policy
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