RCEP, Regional Comprehensive Economic Partnership, is a free trade agreement aiming to reduce tariffs and trade barriers among 15 Asia-Pacific countries. It collectively accounts for about 30% of the world's population and GDP, highlighting their significance in the global economy.   

The agreement includes 10 member countries of the Association of Southeast Asian Nations (ASEAN) and five Asia-Pacific countries — Australia, China, Japan, New Zealand and the Republic of Korea — with whom ASEAN has existing FTAs. The RCEP agreement came into full effect for all 15 members after the Philippines officially joined on 2 June, 2023.

A study by the Asian Development Bank (ADB) found that fully implementing unified rules, simplifying regulatory procedures and expanding market access would boost incomes across member economies by 0.6%, generating an additional $245 billion in regional income annually and supporting 2.8 million new jobs by 2030.

Beyond the projections, several mechanisms have already been established to further reduce administrative burdens. Businesses can either obtain certificates of origin though customs authorities or issue declarations of origin, allowing them to access preferential tariff treatment.

For example, a Chinese company producing handbags for export to Thailand can use leather imported from Malaysia and still qualify for RCEP tariff preferences. Under the agreement's regional cumulation rules, materials sourced from any RCEP member can be treated as originating within the bloc, making it easier for businesses to meet origin requirements and enjoy lower tariffs.

In April 2026, China's trade system had issued a total of $987 million worth of certificates of origin, up 16.4% from same period last year. The number of certificates stood at 34,840, up 13.77% yea-on-year.

The agreement also promotes faster customs clearance through advance rulings, pre-arrival processing and digitalized supervision measures.

According to China's General Administration of Customs, China's total foreign trade volume surpassed 45.47 trillion yuan ($6.35 trillion) in 2025, up 3.8% year-on-year. Meanwhile, China's total trade with the other RCEP members totaled 13.85 trillion yuan, up 5.3% year-on-year. China's trade with ASEAN, its largest trading partner, surpassed $1 trillion.

China has recently issued new regulations on outbound investment, which will take effect from July 1 2026. The country will support investors in carrying out overseas investment activities in accordance with international market principles.

China's growing integration into global industrial and supply chains had deepened its participation in international economic cooperation, and the newly released regulations were expected to further support the high-quality development of the country's outbound investment, said Kong Yishu, an associate research fellow at the Institute of Foreign Economic Studies under the NDRC's Academy of Macroeconomic Research.