The Chinese General Chamber of Commerce in Hong Kong welcomes RCEP to launch Hong Kong's entry process Cai Guanshen: Joining RCEP can drive mutual benefit and win-win situation in the region

The Zhitong Finance App learned that the Chinese General Chamber of Commerce in Hong Kong welcomed the Regional Comprehensive Economic Partnership Agreement (RCEP) through the establishment of a working group to officially launch the entry process for economies including Hong Kong. Cai Guanshen, member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference and Chairman of the CPC General Assembly, believes that Hong Kong's entry into the RCEP will not only benefit its own economic development, but will also drive mutual benefit and win-win situation in the region. The Working Group is about to commence Hong Kong's accession process, marking substantial progress in Hong Kong's bid to join the world's largest free trade agreement.

Hong Kong's first five-year plan, which has just been announced, provides a clear blueprint for action and institutional guarantees for connecting with the country's 15th Five-Year Plan and deepening participation in the development of the RCEP market. As an international financial center, Hong Kong can provide efficient and flexible financing channels for enterprises in the region, and act as a driver of RMB settlement and green finance cooperation; Hong Kong's professional services and legal arbitration advantages have been recognized internationally, helping enterprises expand the RCEP market, and become a springboard for entering the Greater Bay Area and mainland markets in the field of science and innovation, acting as a super partner under the unique advantages of one country's two systems.

The CPC General Assembly has spared no effort in promoting Hong Kong's entry into the RCEP, including holding symposiums and organizing study tours to various RCEP member countries to actively exchange views on the benefits brought by Hong Kong's entry into the RCEP. The conference will host the CPC World Chinese Business Summit in 2024. Chief Executive Li Jiachao and ASEAN Secretary General Gao Jinhong were invited as keynote speakers to discuss the huge opportunities in the RCEP market and the functions that Hong Kong can play when joining RCEP. Chairman Choi Kwan-shen successfully promoted Hong Kong's entry into the ASEAN Free Trade Zone in his early years, laying an important foundation for Hong Kong's participation in the RCEP.

The CPC General Assembly expects Hong Kong to complete the entry process as soon as possible and officially become a member of RCEP. The conference will continue to maintain close ties with the HKSAR Government and the business sector, forge consensus in the industry, and play the role of a chamber of commerce in promoting regional economic integration.