RCEP expected to boost East Asian production network: Expert

RCEP is expected to boost the production network of East Asia, said Zhang Xiaoqiang, executive vice-chairman and CEO of the China Center for International Economic Exchanges, at the RCEP Media & Think Tank Forum held online as well as offline in Haikou, Hainan province, on May 23.

"With significant tariff reductions, participating countries will see their product costs notably reduce, and this will help them build their production layouts within the region in a more flexible way," he said.