Development of ASEAN-China Financial Cooperation under the RCEP Framework

Abstract

International financial cooperation is critical for countries to access finance and investment to promote economic growth. The formal implementation of the Regional Comprehensive Economic Partnership Agreement (RCEP) has pushed financial cooperation between ASEAN and China to a deeper level. The relationship between ASEAN and China is a successful example of regional cooperation in the Asia-Pacific.

The study of ASEAN-China financial cooperation under the RCEP framework is of great significance in advancing the comprehensive strategic partnership between the two sides. The present study analyzes the financial cooperation between ASEAN and China under the framework of RCEP. By studying the development history and opportunities, the article analyzes in-depth the challenges that financial cooperation between the two sides may face, and tries to find ways to improve the openness of financial innovation between the two sides. It also tries to explore the development path of financial cooperation between ASEAN and China from three aspects: improving the degree of financial innovation and openness of the two sides, establishing a perfect financial regulatory system, and adopting differentiated financial cooperation strategies.