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Webinar on the Significance of RCEP and Hong Kong’s Opportunities

2021-03-30

The Significance of RCEP and Hong Kong’s Opportunities Webinar, organized by the Maritime Silk Road Society (MSRS), was held on 30 March.

In his welcome speech, Mr Joseph Chan, Honorary Advisor of MSRS, thanked Dr Wang Chun Xin, Head of Hong Kong Economic and Policy Research Division, Bank of China (Hong Kong), for analyzing the significance of RCEP to the global economy and the opportunities brought to Hong Kong. He described the achievement of RCEP as the establishment of a unified market by reducing tariffs and non-tariff barriers of member countries, and would become the world's largest and most potential regional free trade agreement. He believed that Hong Kong, with China as the hinterland, would definitely benefit from RCEP.

Dr Wang’s sharing is mainly divided into four parts. He first introduced the scale and influence of RCEP. RCEP has become the largest regional free trade agreement in the world, covering about 30% of the total population, economic output and trade volume. In the second part, Dr Wang talked about the diversification of RCEP attracting investors from different places. In the third part, Dr Wang introduced the high growth characteristic and huge potential of RCEP, and pointed out that the growth momentum of RCEP is mainly driven by China. Finally, Dr Wang also answered questions from the participants, including the relationship between digital currency and RCEP, industry and trade, economic development generated by RCEP, and the role of Hong Kong and "Belt & Road Initiative". Overall speaking, participants could learn about the latest developments in the RCEP.

(Please click here for viewing ppt)(Chinese Only)

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