RCEP set in motion, giving a shot in arm to global economy

RCEP, the world's largest free trade agreement, officially entered into force on January 1, 2022.

Consisting of 15 Asia-Pacific countries -- the 10 members of the Association of Southeast Asian Nations and their five large trading partners: China, Japan, the Republic of Korea, Australia and New Zealand, the RCEP forms the world's largest free trade area.

Covering about 30 percent of the global population, gross domestic product and trade volume, the agreement has marked a new stride toward regional economic integration among Asia-Pacific countries, as well as a victory of multilateralism and free trade.

The entry into force of the agreement is of great significance for promoting free trade, reinforcing the industrial and supply chains and quickening global economic recovery, analysts said.