The Regional Comprehensive Economic Partnership (RCEP) is the world’s largest free trade area by scale, population coverage, and development potential. On May 28, the RCEP Local Governments and Friendship Cities Cooperation (Huangshan) Forum, jointly organized by the Chinese People’s Association for Friendship with Foreign Countries and the government of Anhui province, opened under the theme “New Vision, New Opportunity, New Cooperation”.
As the only institutional forum under the RCEP framework, it has become a bridge of connectivity and a key strategic platform for the Hong Kong Special Administrative Region to deepen exchanges and cooperation with RCEP members. The Hong Kong Association for External Friendship is honored to be invited to participate in this forum. This year’s theme precisely captures the defining characteristics and developmental direction of regional cooperation among members. For Hong Kong, which is actively seeking to join the RCEP, the Huangshan Forum provides an opportunity to showcase Hong Kong’s unique advantages not only as a superconnector for policy communication but also as a “functional hub” for professional services and an “emotional bridge” for people-to-people bonds.
Hong Kong is ready to work with all partners to jointly achieve the “new vision” and deliver tangible outcomes for RCEP partners.
It is recognized that the “new vision” proposed at the 2026 Huangshan Forum has a clear direction: Under the upgraded RCEP 2.0 framework, all members will jointly envision a new horizon of higher-level, deeper regional economic integration. Hong Kong is the world’s freest economy and an international metropolis with a low-tax regime. Hong Kong also preserves its common law system and boasts abundant legal professionals fluent in both English and Chinese. If approved to join, Hong Kong will be an important asset to the RCEP blueprint.
As the forum’s mechanism continues to improve and its influence expands, it will surely provide even stronger momentum for Hong Kong to join the RCEP at an early date and help serve the great need for development in the region
The Huangshan Forum provides Hong Kong with an official channel for high-level policy dialogue directly with representatives of RCEP members. By participating in the forum’s sub-forums and roundtables, including the Friendship Cities Dialogue, the Think Tank and Media Dialogue, the Overseas Chinese Entrepreneurs Dialogue, the Trade and Investment Dialogue, and the New Quality Productivity Dialogue, Hong Kong’s delegates had the opportunity to explain the unique advantages of Hong Kong under the “one country, two systems” principle. This year, Hong Kong is formulating its first five-year development plan. The International Organization for Mediation officially began operations on Oct 20 last year, providing an effective and credible platform for commercial dispute resolution among countries with different legal systems, cultures, political and economic systems. Hong Kong will soon set up the Hong Kong International Commercial Court. This is a landmark move by Hong Kong in the international judicial area in settling commercial disputes.
Additionally, Hong Kong is the world’s freest economy, with a mature bilingual common law system and a business environment aligned with international standards. These strengths of Hong Kong are precisely the institutional infrastructure urgently needed to build a “new vision” for regional economic and trade cooperation. This type of infrastructure is already established in Hong Kong, not only integrating seamlessly with RCEP members but also connecting directly with Western countries. To some, Hong Kong can contribute as a superconnector and a “super value-adder” for all RCEP members.
Hong Kong can leverage its world-class professional services to seize “new opportunity” and foster “new cooperation”.
The implementation of the RCEP brings tariff reductions, trade facilitation, and unified rules of origin cumulation to all members, greatly lowering intraregional trade costs while raising higher demands for professional services such as finance, law, aviation, and maritime transport. The “new opportunity” highlighted in this year’s theme is expected to become a fresh growth point for Hong Kong as an international English and Chinese bilingual professional services hub, which serves 2.6 billion people altogether. Hong Kong’s professional-service capabilities in finance, trade, law, supply chain management, and its multitiered talent pool are highly recognized worldwide. As the largest and most important global offshore renminbi business hub, Hong Kong can provide efficient, low‑cost trade settlement and financing services for enterprises from RCEP members. Meanwhile, in the process of reshaping the supply chain ecosystem, Hong Kong’s high‑value‑added services in areas such as IP, design, and branding concepts, can help RCEP members upgrade product value and transform from “selling products” to “selling brands”.
The “new cooperation” in the 2026 forum theme is reflected, on one hand, in the innovation of industrial synergy models and, on the other, in the deepening of people‑to‑people and cultural exchange mechanisms. On the industrial level, as the RCEP evolves into new ventures, the low-altitude economy, the digital economy, Web3, and the green economy have become new growth drivers. The world is watching China’s emerging sectors such as new energy vehicles, artificial intelligence, and low‑carbon technologies. Home to five top-100 global universities and a highly open capital market, Hong Kong acts as a powerful engine. By bridging creativity, R&D, design, and venture capital, it is positioned to become the biggest financial hub for all rising industries.
The theme “New Vision, New Opportunity, New Cooperation” precisely echoes the contemporary needs of Hong Kong as it deepens cooperation with RCEP members. On this platform, Hong Kong has the potential to become a drafter of the new vision, actively participate in improving regional economic and trade rules, and contribute to the RCEP’s globalization of trade with Hong Kong’s extensive experience as one of the freest economies in the world. Hong Kong is also a promoter of new cooperation, playing an irreplaceable role in both industrial synergy and people‑to‑people exchanges. For Hong Kong, deep engagement in the Huangshan Forum is not only a responsibility to serve national strategies but also a new pathway to achieving its own high‑quality development and consolidating its international competitiveness. As the forum’s mechanism continues to improve and its influence expands, it will surely provide even stronger momentum for Hong Kong to join the RCEP at an early date and help serve the great need for development in the region.
The author is founding president and CEO of the Hong Kong Association for External Friendship, a member of the Committee for the Basic Law, a Hong Kong deputy to the National People’s Congress, and a member of the Legislative Council.
The views do not necessarily reflect those of China Daily.
