China To Promote Higher Trade Standards For RCEP - Expert

China will promote high-quality reforms for the Regional Comprehensive Economic Partnership (RCEP), according to Ye Fujing, director at the China Macro Economy Research Institute. RCEP trade rules should move closer to high-standard trade agreements, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Ye said. Going forward, China and ASEAN need to reduce trade barriers, increase efficiency of regional supply chains and strengthen cross-border industrial platforms. Countries in the region can expand trade in fields such as digital economy and green economy and promote “soft connectivity” to support service trade, Ye said. (Source: 21st Century Herald).