RCEP injects dynamism into China's foreign trade industry 焦点快播

(ECNS)OfficialdatashowsthatfromJanuarytoAprilthisyear,thetotalimportandexportvolumebetweenChinaandmembersoftheRegionalComprehensiveEconomicPartnership(RCEP)hit4.12trillionyuan(about$576.06billion),up7.3percentyearonyear,accountingfor30.9percentofChina"stotalforeigntradeimportandexportvolume.

TheRCEPagreementwassignedonNov.15,2020amongits15participatingcountriesincludingChina,Australia,Japan,SouthKorea,NewZealand,and10ASEANcountries,andenteredintoforceonJan.1,2022.

XuLina,aspokespersonforChinesesupermarketbrandWumart,saidastheRCEPisfullyimplemented,thepricesofimportedgoodspurchasedbyWumartinRCEPmembercountriesareexpectedtobecheaperandcustomsclearancefurthershortened.

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ImportedgoodsfromRCEPcountriesinWumartsupermarketsincludeNewZealandmilk,Malaysiansnacks,facialcleanserfromSouthKorea,andThaidurian.

FromJanuarytoMaythisyear,ShanghaiCustomsissuedatotalof34,300RCEPcertificatesoforiginwithavalueof11.772billionyuan(about$1.64billion).

ShanghaiSunhoAluminiumFoilCo.,Ltd.,anenterprisebenefitingfromtheRCEP,canproduce83,000metrictonsofhigh-endultra-thindouble-zeroaluminumfoilannually,ofwhichabout70percentareforexport,widelyusedinthepackagingoffood,beveragesandmedicine.

"Weapplied1,058RCEPcertificatesoforiginwithatotalvalueof$67millionlastyear.AfterthefullimplementationoftheRCEPthisyear,ourproductswillbemorequicklyexportedtoRCEPcountrieswithlowerprices,”saidMeiXiaojun,headofthecompany’sforeigntradedepartment.

Withthecertificateoforigin,enterprisescanenjoytariffreductionsequivalenttofivepercentofthecommodityvalue,whichhasloweredexportcostsandhelpedgainmoreoverseasorders,Meiadded.

InordertoensurethatforeigntradeenterprisescanbenefitfromtheRCEPagreementandworkmoreefficiently,ChinaCustomshasestablishedatargetedservicesystem,optimizingcustomsclearanceproceduresandreducingrelatedcoststohelpenterprisesexpandtheRCEPmarket.

Forexample,QingdaoCustomsinShandongProvincecustomizesplansforimportandexportenterprisestoensuretheycanbenefitmorefromtheRCEPagreement.

"AftertheRCEPcameintoeffect,QingdaoCustomsfoundthatwedidn"tenjoyenoughpreferentialtreatmentthroughdataanalysis,soitformulatedaplantohelpusapplyfortariffconcessionsfromRCEPcountries,”saidWangJiashun,whoisinchargeofinternationalbusinessatafoodcompanyinQingdao.

Itisestimatedthatthisyear,rawmaterialslikepineappleandpineapplejuiceimportedfromASEANcountrieswillincreasebymorethan15percentyearonyear,whileforeignexportsareexpectedtoincreaseby10to15percent,Wangadded.

Meanwhile,customsalsoexplainedtheRCEPtariffpoliciestohelpenterprisesoptimizetheirexportlayoutwhilesomeevenpromotedself-serviceprintingandintelligentverificationofcertificatesoforigintohelpenterprisesreducecosts.

Datashowsthatinthefirstfivemonthsofthisyear,ASEANwasChina"slargesttradingpartner,andthetotaltradevaluebetweenthetwosidesreached2.59trillionyuan,up9.9percentyearonyear,whichhashighlightedthedynamismbroughttoforeigntradebytheRCEP.

LiuYu,whoworksforAlibabaInternationalStation,saidinMaythisyear,customerexportsviatheplatformtoRCEPmembercountriesincreasedrapidlyyearonyear.Amongthem,exportstoAustralia,JapanandthePhilippinesincreasedbymorethan15percentyearonyear,andtoSingaporebynearly30percentyearonyear.

Inadditiontoincreasedexportdestinations,theRCEPhasdeepenedcooperationbetweenChineseandforeigncompanies.

Forexample,theproductionworkshopsofNanningQiaohongNewMaterialsCo.,Ltdhavebeenbusysincethebeginningofthisyearduetoincreasingexportorders,withtheoperatingrateremainingatover90percent.

“NanningCustomstoldusthattariffsonourdust-freepapercanbecancelledfromtheprevious15percentwhenenteringthePhilippinemarketduetotheRCEPagreement,”saidLuQi,deputygeneralmanagerofthecompany.

TheRCEPhasalsopromotedthedeepintegrationoftheregionalindustrialchainsupplychain,saidLu,addingthatthecompanycancarryoutmorein-depthcooperationwithitspartnerswithinthischain.

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