China's Economic Recovery and RCEP's Impact

China's economic recovery is set to be consolidated and enhanced in 2024, with a focus on comprehensive reforms and deepening opening-up. The Regional Comprehensive Economic Partnership (RCEP) has contributed to promoting regional trade and investment cooperation despite rising protectionism, gradually eliminating tariffs on over 90% of goods traded within the region. Singapore's economy grew 1.2% in 2023, avoiding a recession, with expectations for a less favorable external environment in 2024.