In China’s first seven months of this year, Chinese imports and exports to ASEAN reached 35,300 yuan, up 13.2 percent year on year, according to data released by China’s General Administration of Customs. This is the latest achievement of China-asean economic and trade cooperation and a impressive report card of the Regional Comprehensive Economic Partnership (RCEP). Over the past half a year, despite the repeated COVID-19 epidemic and the complex and severe international situation, the RCEP has continued to release policy dividends and helped accelerate China-assean economic and trade cooperation. Micro Match Connectors, Round Connectors and 2 pin connector should be noted.
01 We will improve trade facilitation
China and ASEAN are highly complementary, have a wide range of cooperation and great potential for development. They are each other’s important trading partners. One of the good things after the RCEP came into effect is the tariff concession arrangement. Under the agreement, more than 90 percent of the trade in goods in the region will eventually achieve zero tariff.
According to the rule of origin accumulation, as long as the added value of the product realized in the processing process belongs to the 15 member states, and the cumulative added value of more than 40% can enjoy the corresponding tariff preference. This has brought more confidence to Chinese and ASEAN enterprises to carry out transnational cooperation.
In terms of reducing non-tariff barriers, the agreement enables China and ASEAN to gradually implement unified rules in customs procedures, inspection and quarantine, technical standards and other fields, thus further reducing the cost of trade cooperation between China and ASEAN. Thanks to other favorable factors such as the effectiveness of the RCEP, ASEAN surpassed the EU in the first quarter of this year to become China’s largest trading partner again.
02. Expand the “main arteries” of cross-border logistics
The deep connection between trade and industry directly drives the quality and upgrading of cross-border logistics networks in the region. After the RCEP took effect, the rail-sea combined transport freight train of the new land-sea corridor in western China has added raw sugar, starch and wood, and opened the “RCEP- -Beibu Gulf Port- -Henan”, “Southeast Asia- -Qinzhou- -Xi’an” and “India- -Beibu Gulf Port- -Guiyang”.
As the gateway port of China to ASEAN, the Beibu Gulf port of Guangxi recently opened several container routes to promote container liner exchanges with ASEAN countries; the China-Laos railway and the china-Laos railway connectivity, making the international logistics channel of land-sea combined transport more convenient and smooth…
The booming development of ASEAN-cross-border logistics between China and ASEAN has accelerated the construction of a number of industrial parks such as China-Malaysia and the China-Singapore Nanning International Logistics Park, and accelerated the growth of new business forms and models such as cross-border e-commerce and overseas warehouses, thus adding vitality to china-asean economic and trade cooperation.
03. Accelerate the integration of the industrial chain and supply chain
The RCEP covers a wide range of areas, such as tariff reduction, trade facilitation, and service and investment opening-up. It will encourage the Asia-Pacific region to strengthen industrial chain coordination, optimize the distribution of supply chains, and promote the free flow of economic factors.
Under the framework of RCEP, China and ASEAN have broader common interests in sharing super-large markets, further exerting complementary advantages and rationally allocating production factors, and have broader prospects for industrial and supply chain cooperation. It is fair that against the backdrop of thriving regional economic integration, China-ASEAN cooperation enjoys stronger momentum and better prospects.
Not long ago, Chinese State Councilor and Foreign Minister Wang Yi met with ASEAN Secretary-General Lin Yuhui to launch the construction of the 3.0 version of the China-ASEAN Free Trade Zone as soon as possible, fully implement and implement, and promote the upgrade of RCEP in due course. Looking ahead, the RCEP will surely deliver more fruits to China-ASEAN economic and trade cooperation and provide new drivers for regional and global economic recovery and development.
RCEP takes effect, and Guangxi and Yunnan have become new economic centers. The 11th China International Freight forwarders Conference and the 7th International Freight Fair in 2022 is held in Kunming, Yunnan province, the future central city of RCEP. The “two sessions” held in Yunnan, its purpose is to let the freight forwarder enterprises fully enjoy the RCEP policy dividend, seize business opportunities in Yunnan, seize southeast Asia international logistics channel, explore the outbreak era enterprise new direction at the same time, the real capture cross-border electricity, free trade, bonded, border trade, Laos railway, the new channel and Belt and Road new strategic opportunities.