RCEP poised to inject new momentum in global growth

Chi Fulin, president of the China Institute for Reform and Development, said the RCEP is not only conducive to the full play of the advantages of traditional developed countries but also enables underdeveloped countries to optimize their resource allocation, which will further unleash RCEP members' economic dynamism and promote steady economic growth in the region.

He suggested RCEP countries implement the market openness commitments and rules stipulated in the agreement and start consultations on subsequent provisions as soon as possible.

The implementation of the RCEP is a milestone for Asia-Pacific economies to oppose anti-globalization and jointly built the unified regional market, said Li Jie, vice-president of the Chinese People's Institute of Foreign Affairs.

It is also an important measure to advance global trade and investment liberalization and facilitation, and a major victory of multilateralism and free trade, Li added.

Wang Bin, head of the Publicity Department of the CPC Hainan Provincial Committee, said the province will grasp the opportunities presented by the RCEP implementation, to better engage in the dual-circulation development, improve resource allocation and enhance its opening-up.