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On 15 November, the "Regional Comprehensive Economic Partnership Agreement" (RCEP) signing ceremony was carried out via video link. This marks the successful start of the construction of the East Asia Free Trade Zone with the largest population, the most diverse membership structure and the greatest development potential in the world.

Let me introduce you to the RCEP. Members include, China, Japan, South Korea, Australia, New Zealand and the 10 members of ASEAN countries, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. The negotiation of this agreement started at the end of 2012. It is considered to be the world's largest trade agreement. It covers 2.2 billion people, accounting for about 30% of the world's total population. The 15 member states have a GDP of 26.2 trillion US dollars, accounting for about 30% of the global economy. After the RCEP is signed, the tariff and non-tariff barriers between members will be greatly reduced, and the number of zero-tariff products in trade in goods will exceed 90%. This region has become a unified big market, and the circulation of resources, commodities, services, talents, capital, technology and other elements in the region will be more convenient. The advantages of this region will complement each other, the economic vitality will be stronger, and it will be more competitive than outside the region.

China Explained will show you that because of China’s continued success in industrial upgrading, technological innovation and realizing its huge potential, it is an unstoppable process. The inevitable rise of China may feel intimidating and some simply reject it. Don’t be. China’s rise is part of the new global trend unlike what we have seen in the past one hundred years. Embrace the change and seize the opportunity.

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