Global EditionASIA 中文雙語Fran?ais
    Opinion
    Home / Opinion / Editorials

    Rollout of RCEP significant on many levels: China Daily editorial

    chinadaily.com.cn | Updated: 2023-01-03 20:08
    Share
    Share - WeChat
    [PHOTO BY SHI YU/CHINA DAILY]

    January 1 marks the one-year anniversary of the entry into force of the world's largest trading bloc, the Regional Comprehensive Economic Partnership, consisting of the 10 members of the Association of Southeast Asian Nations along with China, Japan, the Republic of Korea, Australia and New Zealand.

    Against the backdrop of sluggish global economic growth, this free trade bloc, covering the largest population and the largest scale of economy and trade, has not only injected vigor into the development of the regional economy. It also serves as a model for common development among countries of different political systems and different cultures.

    China's participation in the RCEP showcases the country's resolve to further open up and to promote multilateralism as well as free trade, which China believes are the ways to ensure the common development of all countries.

    As the world's second-largest economy, China accounts for 60 percent of the RCEP's total economic volume, and its huge market, as well as the transformation of economic structure, provides impetus for the growth of the regional economy.

    The RCEP stimulates regional economic dynamism by reducing impediments to greater economic exchanges and the regional division of labor, such as tariffs and non-tariff measures. This paves the way for the more efficient allocation of production factors, more efficient design and deployment of cross-border supply and value chains, and regionally coordinated trading rules and best practices in relation to international commerce.

    E-commerce is a good example. Facilitated by non-tariff measures and customs clearance convenience, the RCEP region has the most active cross-border e-commerce and enjoys the highest growth rate in the world.

    The total volume of imports and exports between China and other RCEP members reached 11.8 trillion yuan ($1.71 trillion) from January to November last year, an increase of 7.9 percent year-on-year. This speaks volumes about how the RCEP has promoted economic and trade cooperation between China and the other participating countries and the development of the regional economy.

    The lower tariffs facilitated by the RCEP have greatly reduced the cost of imports for the ASEAN members, while at the same time considerably increasing the opportunities for their exports.

    The RCEP reduced the tariffs between China and its ASEAN partners on more than 65 percent of commodities to zero immediately after the treaty took effect last year. From January to October last year, China's imports and exports with ASEAN countries reached $798.4 billion, an increase of 13.8 percent year-on-year.

    The RCEP is also the first free trade treaty China, Japan and the ROK are jointly participating in, and it will further promote economic cooperation and trade among the three major countries in East Asia.

    The importance of the RCEP, therefore, can never be overestimated for the development of both the regional and global economies.

    Most Viewed in 24 Hours
    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    亚洲欧美日韩国产中文| 日木av无码专区亚洲av毛片| 好看的中文字幕二区高清在线观看| 国产成人无码一区二区三区在线 | 97无码人妻福利免费公开在线视频| 亚洲AV无码国产精品色午友在线| 亚洲综合无码一区二区| 在线欧美中文字幕农村电影| 少妇性饥渴无码A区免费 | 亚洲ⅴ国产v天堂a无码二区| 亚洲欧美日韩国产中文| 精品久久亚洲中文无码| 中文字幕精品无码一区二区三区| 精品久久久久久中文字幕大豆网| 无码av免费一区二区三区试看| 亚洲熟妇无码另类久久久| 合区精品中文字幕| 国产精品久久久久无码av| 亚洲AV综合色区无码一区 | 亚洲中文字幕日产乱码高清app | 无码人妻少妇伦在线电影| 成人麻豆日韩在无码视频| 亚洲欧美中文字幕| 精品久久久久久久久中文字幕| 亚洲.欧美.中文字幕在线观看| 久久亚洲av无码精品浪潮| 亚洲一区精品无码| 亚洲AV无码乱码国产麻豆穿越| 中国无码人妻丰满熟妇啪啪软件| 无码AV动漫精品一区二区免费| 欧美麻豆久久久久久中文| 色婷婷久久综合中文久久一本| 最近中文字幕高清免费中文字幕mv| 精品国产a∨无码一区二区三区| 亚洲日韩在线中文字幕第一页| 无码国模国产在线无码精品国产自在久国产 | 亚洲国产中文字幕在线观看| 最近最新免费中文字幕高清| 在线天堂中文在线资源网| 最近免费视频中文字幕大全| 精品人妻无码专区中文字幕|