On November 15, the 4th Regional Comprehensive Economic Partnership Agreement Leaders’ Meeting was held. The ten ASEAN countries and 15 countries including China, Japan, South Korea, Australia and New Zealand formally signed the Regional Comprehensive Economic Partnership Agreement (RCEP). This marks the official conclusion of the world's largest free trade agreement. Premier Li Keqiang said that the signing of RCEP is not only a landmark achievement of East Asia regional cooperation, but also a victory for multilateralism and free trade, which will surely add new momentum to the development and prosperity of the region. According to expert analysis, the formal signing of RCEP has three important significance: first, in the case of multilateral economic and trade cooperation encountering obstacles, the conclusion of the world’s largest free trade agreement can further promote trade liberalization in the entire world; Under the background of disrupting the global supply chain, the completion of the formal signing of the RCEP by the Asia-Pacific countries is great news for the recovery of the global supply chain; third, the economic integration of Asia has taken a very important step, and it is very important for China. Finally has its own giant free trade agreement.
