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Huaihua, a city in Central China's Hunan province, is intensifying its efforts to connect local products with global markets under the Regional Comprehensive Economic Partnership (RCEP) framework, as highlighted at a trade and investment event on Tuesday.
Over 300 participants from more than 30 countries gathered in Huaihua for the 2026 Hunan (Huaihua) RCEP Economic and Trade Investment Conference and the "Hunan Premium Products Going Global" Foreign Trade Industry Supply-Demand Matchmaking Event.
The event brought together representatives from international organizations, business councils, overseas Chinese business leaders and professional international purchasing agents.
Wei Zhaohui, Communist Party secretary of Huaihua, emphasized in her welcoming address the city's unique advantages as a trading gateway.
Huaihua is a key node on the eastern route of the New International Land-Sea Trade Corridor and serves as the only freight hub in Hunan dedicated to the ASEAN market, Wei said.
"Seven international logistics routes connect Huaihua to 238 ports and stations worldwide, enabling cargo to reach seaports in 30 hours and ASEAN countries within three days," she said.
The city has also developed significant industrial strengths, Wei added.
"In Huaihua, a single suitcase can be produced from raw materials to a finished product entirely within local industrial parks."
The matchmaking event highlighted Huaihua's specialized products, including luggage and bags, bamboo products, traditional Chinese medicine, green food, and sporting goods. More than 50 local companies showcased their products and talked with domestic and international buyers.
Following the negotiations, buyers visited local industrial parks and factories to gain a deeper understanding of the city's production capabilities, ensuring effective matching of supply and demand.
The event proved highly productive, with 14 intended procurement agreements signed on-site, covering seven major product categories with a total value of 211 million yuan ($31.1 million).
Ayman Saad Hashem, general manager of Ontop Trading, a foreign trade company based in Egypt, tested a ride-on suitcase at the event.
"This is excellent," he said. "With such a suitcase, you don't have to walk as much in airports and train stations. I'm sure it will sell well in our country."
For Thai journalist Supachai Wuthichuwong, RCEP isn’t just about rules and disciplines—it's "taste-able" and "drive-able," from fresh Thai durians in Chinese markets to Chinese NEVs on Thai streets. Speaking with UnboxingChina after the 2026 RCEP Media and Think Tank Forum, he noted that the media's role is to simplify these complex gains for the public. Echoing this, Filipino columnist Wilson Lee Flores pointed out that rather than obsessing over conflict, global media should provide a more balanced and positive perspective on an innovative, vibrant Asia.
China's Hainan Free Trade Port (FTP) launched an island-wide special customs operation on Dec 18, 2025. After five months, Vietnamese journalist Do Le Ngoc Bich described today's Hainan as "quite a central logistics hub, like a bridge between the member countries in the RCEP to trade with each other".
Speaking with UnboxingChina after the 2026 RCEP Media and Think Tank Forum, she noted that Hainan has achieved a good balance between infrastructure development and ecological preservation, and is growing into an important regional logistics hub. Filipino columnist Wilson Lee Flores said the Hainan Free Trade Port is not only significant for China's economy, but will also serve as an important catalyst for economic growth in the Asia-Pacific region as well as in enhancing global competitiveness.
On May 10, representatives from multiple countries gathered in Haikou, Hainan province, for the China-ASEAN Blue Economy Cooperation Dialogue to discuss the blue economy, regional cooperation, and technological innovation.
The event was held under the theme of "Forging a Strategic Hub for the Big and Shared China-ASEAN Blue Economy Market - The Strategic Task of 'Creating a New Maritime Hainan'."
Geopolitics is the occasional typhoon outside. RCEP is not the roof — it is the room where neighbors keep talking positively and trading while the storm passes … That is the accumulated wisdom of Asian diplomacy.
As a frontier and test bed for China's reform and opening-up, Hainan can act as a core hub connecting the Chinese mainland with other RCEP members, much like Singapore and the Hong Kong Special Administrative Region have facilitated exchanges between the Chinese mainland and Western countries.
The RCEP upgrade could have big goals, but not too many. It should avoid turning into a wish list. Before piling on new issues, member economies must first resolve existing pain points: improving the utilization of rules of origin, addressing disparities in implementation capacity, and tackling nontariff measures. These may sound technical, but they are extremely practical and fundamental to the agreement's effectiveness.
Hong Kong has long aspired to join the RCEP and looks forward to cooperating with Hainan to achieve a "one plus one greater than two" effect. Hong Kong can be a great partner for Hainan. For instance, in the commercial space sector, Hong Kong's financial and service strengths can be effectively aligned with Hainan's Wenchang commercial space launch site to facilitate cooperation.
In a world where geopolitical events unfold almost every day, the RCEP has emerged as a vital anchor for multilateralism, proving that despite political differences and uneven levels of development, regional economic cooperation and integration remain not only possible but essential.
The Hainan Free Trade Port is set to play an increasingly pivotal role in linking China with the vast markets of the Regional Comprehensive Economic Partnership, injecting fresh impetus into global economic growth amid rising trade headwinds, experts said.
Underscoring Hainan FTP's role as a key gateway advancing China's opening-up drive in the new era, they said the island's strategic geographic position at the center of the RCEP region and preferential trade policies will create new opportunities for cooperation in supply chains and services trade.
The remarks were made at a sub-forum of the 2026 RCEP Media & Think Tank Forum in Haikou, Hainan province.
Zhao Jinping, vice-president of the China Association of Trade in Services, said Hainan FTP will serve as a stress test field for China's high-level opening-up, against the backdrop of escalating global geopolitical uncertainties and rising trade protectionism.
"As its institutional and policy frameworks continue to improve, Hainan will evolve into a crucial hub enabling enterprises to tap into new investment and trade opportunities across the bloc of RCEP, the largest free trade agreement in the world," Zhao said.
Tu Xinquan, director of the China Institute for WTO Studies at the University of International Business and Economics, said the RCEP has become a vital force in sustaining global trade. For instance, direct China-US economic ties have weakened due to geopolitical factors, while the indirect trade links, especially through the RCEP, are on the rise, he said.
"As a frontier and test bed for China's reform and opening-up, Hainan can act as a core hub connecting the Chinese mainland with other RCEP members, much like Singapore and the Hong Kong Special Administrative Region have facilitated exchanges between the Chinese mainland and Western countries," Tu said.
Bigger role
Guo Da, executive president of the Hainan Institute for Free Trade Port Studies, said high-level free trade ports such as Hainan can play a bigger role as the RCEP cooperation deepens. Currently, about 40 percent of Hainan's foreign trade flows to RCEP member economies, he noted.
Driven by unified RCEP rules and Hainan's free trade port policies, trade between Hainan and RCEP members has grown at an annual average rate of over 20 percent in recent years, he said.
Nicholas Kwan, deputy head of the chief executive's policy unit of the Hong Kong Special Administrative Region, said: "Hong Kong has long aspired to join the RCEP and looks forward to cooperating with Hainan to achieve a 'one plus one greater than two' effect.
"Hong Kong can be a great partner for Hainan. For instance, in the commercial space sector, Hong Kong's financial and service strengths can be effectively aligned with Hainan's Wenchang commercial space launch site to facilitate cooperation," Kwan said.
Kim Do-hoon, former president of the Korea Institute for Industrial Economics and Trade, said that to give full play to Hainan's potential, more efforts are needed to cultivate local industries such as transport, and attract more big companies to invest in the island.
Zhu Jianmin, chairman of Oxiranchem Group, said: "The Hainan FTP's tax policies, unique geographic location and logistics advantages have enabled us to source raw materials globally and target ASEAN markets effectively."
Contact the writers at masi@chinadaily.com.cn.
The world's largest free trade pact is gearing up for its next phase amid growing protectionism and other challenges, a forum in Hainan heard.
Experts weighed in, calling for the Regional Comprehensive Economic Partnership to expand its membership, focus more on the service industry and keep pace with other trade agreements.
They discussed the present and future of the agreement at the 2026 RCEP Media & Think Tank Forum held in Haikou, Hainan province, over the weekend. The event was hosted by China Daily and the China Institute for Reform and Development.
The sustained efforts of China, as a key player of the bloc, to advance high-standard opening-up, they say, would allow other member economies to share in its massive market for inclusive development.
RCEP economies are projected to grow at a rate of about 4.5 percent this year, with their contribution to global economic growth expected to remain at over 32 percent, according to the RCEP Industry Cooperation Committee.
By contrast, the IMF in April cut its global growth forecast for 2026 to 3.1 percent, citing the severe disruptions caused by conflicts in the Middle East.
RCEP members are looking at how to improve the pact amid a worsening external environment as the trade agreement enters its next phase following a general review in 2027, according to experts.
It will be the first time for such a review since the agreement came into effect in 2022.
Expanding RCEP membership is high on the agenda, as it will not only broaden the pact's footprint, but also strengthen its resilience against rising protectionism, said Wang Yiming, former deputy director of the Development Research Center of the State Council.
The RCEP opened its doors to welcoming new members since July 2023. China's Hong Kong, Sri Lanka, Chile and Bangladesh have expressed their interest in joining the RCEP.
"The RCEP's attractiveness and influence are continuously increasing. More and more economies are submitting applications," Wang said. "We need to actively respond to these applications and push for the expansion of RCEP membership."
But growing membership cannot address the pact's structural weaknesses, said Zhao Jinping, vice-president of the China Association of Trade in Services.
The agreement faces a significant gap in services trade, where RCEP commitments lag behind those of other major trade pacts, he said.
In 2024, services accounted for 26.4 percent of total cross-border trade worldwide, a historic high, according to WTO data. Yet the share of services in RCEP's total trade remains relatively lower.
The scheduled general review could serve as "a critical window" to expand commitments to the service industry, expanding intra-regional trade and investment, Zhao said.
Digital transformation
Lee Hee-sup, secretary-general of the Trilateral Cooperation Secretariat, said that digital commerce, cross-border data flows, green development and innovation-driven industries are emerging as new growth drivers.
The pact should actively promote digital transformation to stay relevant in a fast-changing global landscape, he added.
The China-ASEAN Free Trade Area 3.0 Upgrade Protocol, signed last October, could provide experience that the RCEP can draw from, observers note. The China-ASEAN agreement has incorporated the digital economy, green economy and supply chain connectivity into its framework — areas that are also at the forefront of the RCEP's next phase.
China, with its continuous efforts to advance high-standard opening-up and open its door wider, will enhance market connectivity, factor mobility and regulatory alignment between China and other RCEP economies, said Guo Da, executive president of the Hainan Institute for Free Trade Port Studies.
Data from the RCEP Industry Cooperation Committee showed that in the first quarter, China's trade with other RCEP members surged 20.2 percent year-on-year to 3.73 trillion yuan (about $515 billion), with imports jumping 25 percent.
wangkeju@chinadaily.com.cn
From duty-free durian to new energy vehicles, real-world stories prove the value of the world's largest trade pact, speakers said at an event in Hainan on Saturday.
The panel on the Regional Comprehensive Economic Partnership was part of the 2026 RCEP Media & Think Tank Forum in Haikou, Hainan province.
Supachai Wuthichuwong, a member of the editorial board of Thailand's MGR Online, offered concrete evidence of those benefits.
"Taokaenoi, the largest seaweed manufacturer in Thailand, has been importing seaweed from South Korea and benefited from RCEP rules' zero tariff," he said. "It processes the raw material and makes popular seaweed snacks that are sold globally."
China has imported durian from Thailand duty-free, while Thailand has imported new energy vehicles from China duty-free, which are the kinds of examples the media should use in the RCEP region, he added.
Ko Ko Maung, executive board member of the Myanmar Institute of Strategic and International Studies, called RCEP "a strategic framework for shared prosperity".
Participants challenged the view that the RCEP is a conventional trade deal in the discussion.
"That is technically correct but analytically incomplete," said Wilson Lee Flores, columnist for The Philippine Star. "RCEP is better understood as an institutional stress test — can 15 economies with different political systems, income levels, legal traditions and strategic cultures cooperate without a centralized authority?"
Flores contrasted Europe's model of treaties, courts and bureaucracy with Asia's approach of flexibility, gradualism, consensus and patience.
"When we ask why progress on rule upgrades, a secretariat or membership expansion seems slow, we must first ask: slow by whose clock?" he said.
"In the Philippines, many small farmers still ask, 'Where do I even find the tariff schedule?' That is not ignorance. That is infrastructure -digital, logistical, educational — still being built."
Inclusive growth
He said gradual pace is "the price of inclusive growth" and that the existence of RCEP reveals a "quiet resilience".
Flores said RCEP offers a separate track for cooperation even when political temperatures rise.
"Geopolitics is the occasional typhoon outside. RCEP is not the roof — it is the room where neighbors keep talking positively and trading while the storm passes," he said. "That is the accumulated wisdom of Asian diplomacy."
With RCEP's general review approaching in 2027, Flores called for a regional public education initiative over the next two years: multilingual media campaigns, university partnerships, youth exchanges, journalist fellowships and digital storytelling focused on practical success stories.
"Not theory. Not jargon. But examples," he said. "If the people themselves feel included in the journey of regional development, then the foundations of RCEP will become far stronger, more stable and more enduring for future generations."
The panel agreed that the pact's ultimate measure is not bureaucratic milestones but whether farmers, entrepreneurs and consumers see better lives. RCEP's benefits are already on store shelves and dinner tables — stories, speakers said, that deserve to be told.
Contact the writers at chenbowen@chinadaily.com.cn.
At the 2026 RCEP Media & Think Tank Forum, Yose Rizal Damuri, executive director of the Center?for Strategic and International Studies in Indonesia, warned that uncertainty is now the fundamental reality for businesses. Damuri stressed that localization is not the answer; instead, we must "keep the market open, keep the economy open, and diversify" to build true economic resilience.
Speaking at the 2026 RCEP Media & Think Tank Forum on May 9, Sin Chew Daily Editor-in-Chief Chan Aun Kuang emphasized that RCEP empowers the real economy through its "operability". By unifying rules of origin and reducing tariffs, the agreement has effectively lowered barriers for enterprises entering regional markets.
As the world's largest free trade agreement, the Regional Comprehensive Economic Partnership is set to play an even more prominent role in anchoring Asian economic integration and helping the global economy navigate geopolitical shifts and mounting challenges, officials and experts said.
Highlighting the RCEP's role as a powerful counterweight to trade unilateralism, they called for it to evolve from one of "scale advantage" to one of "functional and quality enhancement" — while also urging greater efforts to leverage Hainan Free Trade Port as a key gateway connecting China with other RCEP member economies.
The remarks were made at the 2026 RCEP Media and Think Tank Forum, which opened on Saturday in Haikou, Hainan province. With the theme of "Working Together to Address Challenges and Promote Development", the forum was hosted by China Daily and the China Institute for Reform and Development.
Liu Xiaoming, governor of Hai-nan, said covering 30 percent of the world's population and economic output, the RCEP is the free trade agreement with the greatest potential. It has played an irreplaceable role in maintaining global economic stability and has also become a key driver of Hainan's export-oriented economy.
"Hainan Free Trade Port demonstrates China's resolve to expand opening-up and advance economic globalization. We stand ready to work with all RCEP parties to jointly forge a new pattern of regional development through closer coordination," Liu added.
The governor said that Hainan has seen growing economic vitality since the island-wide special customs operations were launched in December, offering favorable trade policies such as tax reduction and duty-free measures.
Qu Yingpu, publisher and editor-in-chief of China Daily, said that over the past year, Asia has contributed over 60 percent to global economic growth, a result of joint efforts by China and other Asian nations.
"China has always championed open regionalism and true multilateralism, and the construction of the Hainan Free Trade Port stands as a vivid example of this commitment," Qu said.
He said that China Daily has been deeply engaged in the building of the Hainan Free Trade Port International Services portal.
"Confronted with high walls of trade barriers, what we need is not to build walls to protect ourselves, but to pave roads and build bridges," he said, calling on media and think tanks to use professional insights to dispel misinformation and to tell authentic stories of regional economic cooperation.
Qu also highlighted the China-ASEAN Free Trade Area 3.0 Upgrade Protocol, which, for the first time, includes emerging areas such as digital economy, green economy, and industrial and supply chain connectivity. "With everyone's efforts, I believe the fruits of technological innovation will cross borders and benefit all."
The RCEP, which is aimed at gradually eliminating tariffs on over 90 percent of goods traded among its 15 members, has delivered tangible results since coming into effect in 2022. Intra-regional trade surged from $4.9 trillion in 2021 to $6.1 trillion in 2025, a 24 percent increase, while its share of global trade rose from 27.2 percent to 29.1 percent.
Yose Rizal Damuri, executive director of the Centre for Strategic and International Studies in Indonesia, said: "Geopolitical competition is becoming more intense and more varied. Emerging industries are reshaping global landscapes, and contradictions in energy and food markets are worsening.
"This means that regional integration — such as the RCEP — is precisely what the current moment calls for. The institutional framework is providing member economies with a combination of growth opportunities, policy predictability and supply chain resilience."
Chi Fulin, president of the China Institute for Reform and Development, said, "China's vast market has become the largest source of certainty for RCEP's development."
"The next five years are crucial for China to build a strong domestic market. The efforts to accelerate China's tariff reduction commitments under the RCEP framework, especially on intermediate goods, and to further open up services trade will provide enormous new growth engines for RCEP cooperation," Chi added.
Chi also highlighted the strategic role of the Hainan Free Trade Port. "As a major gateway, Hainan is well-positioned to pioneer breakthroughs in finance and data flows, and serve as a vital platform linking the Chinese market with ASEAN, thus better safeguarding regional industrial and supply chain stability."
Lyu Bin, president of the China Oceanic Development Foundation, said, "Most RCEP members are ocean-based economies, and the ocean plays a vital role."
He called for more efforts to expand RCEP cooperation in mariculture, marine ecotourism and disaster prevention, as well as leveraging digital technologies to build smart ports and offshore new energy supplies.
At the 2026 RCEP Media & Think Tank Forum, Ko Ko Maung, executive member of the Myanmar Institute of Strategic and International Studies, stated that under the RCEP framework China can directly reach the Indian Ocean through the China-Myanmar international railway, which will contribute to the economic development of both countries. The Myanmar side will work with the Chinese side to jointly build such a "mega project".
During an exclusive interview at the 2026 RCEP Media & Think Tank Forum, Xiao Geng, associate dean of the School of Public Policy of the Chinese University of Hong Kong, Shenzhen, stated that Chinese enterprises possess immense potential in expanding overseas, as they can utilize both private and state-owned?foreign exchange reserves. Xiao noted that the Hainan Free Trade Port (FTP) can help capital better serve the real economy, and that China can make efforts on two fronts: promoting high-quality governance and exploring ways for institutional innovation.
At the 2026 RCEP Media & Think Tank Forum, Donna Gultom, the assistant for International Trade to the Indonesian Presidential Special Envoy for International Trade and Multilateral Cooperation, pointed out that new changes in the global geopolitical landscape present an opportunity for RCEP to achieve expected advancements.
Strengthening the resilience of regional supply chains has become one of the important directions for RCEP's future development.
At the 2026 RCEP Media & Think Tank Forum, Deputy Director General of the Institute for Industry, Commerce and Energy in Laos pointed out that under the RCEP framework, agriculture and logistics will become the two most beneficiary industries in Laos. As a landlocked country, Laos intends to leverage the port resources of Hainan province to broaden its international trade channels in the future.
"Hainan is like the heart in the human body, it can connect to all," said Chheng Kimlong, president of the Asian Vision Institute in Cambodia, at the 2026 RCEP Media & Think Tank Forum on May 8. He said that Cambodia has benefited from financial integration. RCEP promotes seamless integration of the financial sector and cross-border payments. Chheng also stated that free trade ports can absorb some of the external shocks.
At the 2026 RCEP Media & Think Tank Forum, held on May 9, President of China Institute for Reform and Development (CIRD) proposed promoting effective connectivity between China's vast market and the RCEP member markets. He stated that China's vast market has become the most important source of certainty for RCEP's development.
At the 2026 RCEP Media & Think Tank Forum held on May 9, Lyu Bin, chairman of the China Oceanic Development Foundation, stated that most RCEP members are maritime economies, and the ocean plays a vital role in RCEP cooperation and development. The Foundation actively promotes blue economy cooperation and marine governance practices, empowering high-quality regional economic development in the RCEP through blue initiatives.
At the 2026 RCEP Media & Think Tank Forum held on May 9, Liu Xiaoming, deputy secretary of the Hainan Provincial CPC Committee and governor of Hainan province, stated that operations have been smooth and orderly since the island-wide independent customs operation began. With goods flowing freely, people traveling easily, and traffic converging, initial success is already evident. Hainan is becoming China's new frontier for opening-up, a new highland for regional cooperation, and a new engine for economic globalization.
"This is very vital to ensure that prosperity is shared among the SMEs," said Unny Sankar Ravi Sankar, Minister of Economic Affairs at the Embassy of Malaysia in China, at the 2026 RCEP Media & Think Tank Forum on May 8.
Sankar also stated that moving toward high-value-added supply chains will further strengthen regional cooperation across ASEAN, China, and the RCEP.
