A joint initiative to promote the early implementation of the Regional Comprehensive Economic Partnership – or RCEP agreement – was launched in the East China port city of Qingdao on April 25.

The RCEP accord – which was signed in November, 2020 – created the world's largest free trade zone, as measured by a wide range of indicators. Its 15 member states are home to 2.27 billion people, with a total GDP of $26 trillion and total annual exports of $5.2 trillion.

At the launch of the initiative on April 25, trade and investment promotion organizations – as well as business associations of the RCEP members – agreed to co-initiate the Qingdao Initiative on Jointly Promoting RCEP Regional Economic and Trade Cooperation.

The goal is to support an open, inclusive, transparent, non-discriminatory and rules-based multilateral trading regime.

The Shinan district of Qingdao city – located in East China's Shandong province – staged an event at the RCEP Special Lecture Hall on May 10

It aimed to improve the ability of government staff and officials in the district to seek new economic development under the terms of the RCEP agreement – and to promote the high-level opening up of Shinan to the outside world.

Yuan Bo, deputy director of the Institute of Asian Studies, was invited to give a lecture during the event.