The Regional Comprehensive Economic Partnership took effect for all 15 member states on June 2. Since being signed in early 2022, the RCEP has been promoting intraregional trade and economic development, and China, as an RCEP member, has seen steady growth in its imports and exports.

China's foreign trade will help boost its economic development and "dual circulation" development paradigm, in which the domestic market is the mainstay and the domestic and overseas markets reinforce each other. It will also play a bigger role in the world economy. In this context, the comprehensive implementation of the RCEP, the world's largest free trade deal, indicates greater generation of momentum.

The RCEP is a free trade agreement covering the largest population with the most diversified membership structure and the greatest development potential. It covers about 30 percent of the world's population, economic volume and total trade. As RCEP member states gradually fulfill their commitment to lower tariffs, open markets and reduce barriers to trade, the economic and trade relations in the region will become stronger, and the market potential of most member countries will continue to be unleashed, shoring up regional trade in Asia.

It is therefore clear that the RCEP will play an increasingly important role in China's foreign trade, and effectively drive trade growth in the region by reinforcing business ties between China and other regional markets.

Benefiting from the simpler customs procedures, better trade facilitation and lower tariffs that come with the RCEP, LSLI will get more room for development in the international market, and in turn create new opportunities for the robust growth of foreign trade.