RCEP a good deal for globalization, regional integration

The Regional Comprehensive Economic Partnership is a victory of multilateralism and free trade, and is significant to economic globalization and regional economic integration, said Chi Fulin, president of the China Institute for Reform and Development at the RCEP Media & Think Tank Forum in Haikou, Hainan province, on May 23.

The establishment of a set of multilaterally unified comprehensive e-commerce rules reflects the region's consensus on many key issues including cross-border information transmission, information storage, online consumer protection, personal information protection and cybersecurity, which will create a stable and amenable institutional environment for the growth of the digital economy, he said.