RCEP helps China-ASEAN trade reach a new high



The 21st Century Business Herald noted that this Canton Fair is the first Canton Fair since the RCEP came into effect, and the partners of the Canton Fair have also achieved full coverage of RCEP member countries.


In this regard, Zhao Ping, vice president of the Research Institute of the China Council for the Promotion of International Trade, told the 21st Century Business Herald that China, as the world's largest trader of goods and a major manufacturing country, has a huge space for trade cooperation with RCEP. Enterprises in RCEP member countries are optimistic about the Chinese market and are bullish. China's economy. As the largest free trade zone, RCEP has huge space for trade development. After RCEP takes effect, it will have a huge trade creation effect, thus attracting enterprises from RCEP member countries to actively participate in the Canton Fair.


According to customs statistics, in the first quarter, Chinese enterprises used RCEP to enjoy 6.7 billion yuan of preferential imports and 130 million yuan of import tariff concessions; 37.1 billion yuan of preferential exports, and it is expected to enjoy 250 million yuan of tariff concessions from member states. The effect of RCEP's implementation on regional trade is gradually emerging.


RCEP helps China-ASEAN trade reach a new high


According to customs data, my country's imports and exports to ASEAN reached 1.35 trillion yuan in the first quarter, an increase of 8.4% year-on-year, accounting for 14.4% of my country's total foreign trade value. The import and export volume between my country and ASEAN accounts for 47.2% of the foreign trade volume with RCEP trading partners, accounting for nearly half.


On January 1, 2022, RCEP officially came into effect, boosting the economic and trade development between China and ASEAN, and the new institutional dividend has further strengthened the economic and trade exchanges between China and ASEAN. Customs statistics show that in the first quarter, my country's import and export volume with ASEAN accounted for 47.2% of the foreign trade volume with RCEP trading partners, accounting for nearly half.


In recent years, the construction of the new western land-sea corridor has promoted the close connection between the western part of my country and ASEAN countries, and ensured the economic and trade exchanges between China and ASEAN. In the first quarter of this year, 170,000 TEUs of containerized cargo were dispatched by the rail-sea intermodal trains of the new western land-sea channel, a year-on-year increase of 56.5%. The China-Laos Railway has built a convenient logistics channel between China and ASEAN. At present, many provinces and cities across the country have successively opened cross-border freight trains on the China-Laos Railway. In the first quarter, the import and export of railway transportation between China and ASEAN increased by 3.5 times.


Ma Kaishuo, Distinguished Academician of the Institute of Asian Studies at the National University of Singapore, said that under the framework of RCEP, the cooperation between China and ASEAN is of great significance. ASEAN is now China's largest trading partner. If the two sides can cooperate better, the region can integrate better. This is a common direction.


Zhao Ping pointed out that the current trade creation of RCEP has not been fully utilized. With the acceleration of RCEP implementation and promotion activities, more enterprises will understand and flexibly use RCEP rules to carry out preferential trade. RCEP superimposes China-ASEAN Free Trade The preferential policies in the region will further increase the scale of trade between China and ASEAN.


She believes that in the future, there will be new trade growth points between China and ASEAN in agricultural products, consumer goods, mechanical and electrical products, mineral products, chemicals, papermaking and other fields.


According to customs data, in the first quarter, my country imported 46.02 billion yuan of agricultural products from ASEAN, an increase of 14.1%, accounting for 13.7% of the total value of my country's agricultural imports. Among them, the imports of aquatic products, dried and fresh fruits and nuts from ASEAN increased by 26.2% and 17.3% respectively.