The 3rd RCEP Economic and Trade Cooperation Business Summit was held in Nanning, South China's Guangxi Zhuang autonomous region, on Sept 17. Gao Yunlong, vice-chairman of the National Committee of the Chinese People's Consultative Conference, and Hun Manet, prime minister of the Kingdom of Cambodia,  attended and addressed the event. 

Gao, also chairman of the All-China Federation of Industry and Commerce (ACFIC), said that China will continue promoting institutional opening-up, improving laws and regulations, and building a market-oriented, law-based international business environment that is in line with the rules and standards under Regional Comprehensive Economic Partnership (RCEP). 

He noted that the Chinese market has huge potential and bright development prospects, which will undoubtedly produce new opportunities for overseas business communities and foreign countries, and inject strong momentum into global development. 

Gao called on business communities in the Asia-Pacific region to jointly build a new pattern of an open world economy and strengthen unity to boost the quality and efficiency of practical RCEP cooperation. He also urged all parties to accelerate the pace of innovation to upgrade industrial technology and the integration of technology and industry, as well as leverage the role of business associations to open new channels for economic and trade cooperation, and guide enterprises to fully seize the opportunities brought about by the comprehensive implementation of the RCEP for greater benefits and development. 

Themed on "Integrating into a more open RCEP market to promote win-win cooperation in the Asia-Pacific region", the event was jointly organized by the ACFIC, the ASEAN Secretariat and the people's government of Guangxi. Attendees of the summit exchanged views on expanding RCEP partnership countries to enhance regional economic growth stability and deepen cooperation to push forward inclusive and efficient implementation of the RCEP agreement. 

Also at the summit, business associations and relevant enterprises from RCEP member states released the Nanning Initiative on Fully Implementing RCEP to Promote the Stable Development of Regional Industrial Chains and Supply Chains, and initiated the establishment of the RCEP Regional Cooperation Alliance for Industrial Chains and Supply Chains.