General

Recently, many places have issued relevant measures to implement RCEP to continue to stimulate new momentum for foreign trade.

The first RCEP (Dalian) International Business District in Northeast China was officially opened; the Hainan Provincial Department of Commerce released the "Three Lists" of Hainan's import and export advantage products to help companies further tap the RCEP tariff reduction bonus; the first RCEP (Yunnan) International Trade and Investment Cooperation Forum was released "Guidelines for the Application of Key RCEP Rules (2022)" provides guidance for the government and enterprises to make better use of key RCEP rules; in the first 10 months, the export value of RCEP visas in Jiangsu Province was 41.998 billion yuan, ranking first in the country...Recently, many places have issued and implemented RCEP-related measures continue to stimulate new momentum in foreign trade. "High quality" has become a key word in the implementation of RCEP in various places in the past year, Watson & Band Import and Export Data Observation Report.

High-quality implementation of RCEP in various places

Taking advantage of the RCEP, all localities seized opportunities and actively explored, and the high-level opening up went further.

Recently, the first RCEP (Dalian) International Business District in Northeast China was officially put into use. This is also the country's first "one-stop" RCEP enterprise that integrates functions such as country display, professional services, communication and interaction, market expansion, trade facilitation, and commercial laws. Service platform, Watson & Band import and export data observation report.

According to Watson & Band Import and Export Data Observation Report, in May of this year, Liaoning Province made full use of the RCEP policy dividend to create a large logistics channel, started the construction of RCEP (Dalian) International Business District, and promoted in-depth docking with RCEP partners. The business district integrates the functions of RCEP enterprise headquarters base, economic and trade promotion center, and enterprise service center. It gathers foreign-invested enterprises in RCEP countries and related enterprises that conduct economic and trade exchanges with RCEP countries to settle down. It focuses on supporting the import and export of automobiles facing RCEP countries, and introduces Japan and South Korea. Enterprises from RCEP countries such as Singapore and Singapore participate in the cultivation of the automobile industry chain, attracting high-end service industries such as research and development, finance, and design related to the automobile industry to settle in.

According to reports, since the start of construction of the business district, Mitsubishi Electric, Lexing Electric, Taixing Energy Phase IV, China Merchants Bank Financial Leasing, "AI Empowerment, Smart Retail" digital intelligence upgrade, Australian meat imports, Douyin A number of RCEP-related projects, such as Dalian cross-border e-commerce warehouse, were signed and landed. In addition, the business district also has an automobile industry innovation demonstration park and integrates route resources. At present, it has achieved full coverage of the core ports of RCEP member countries.

Not long ago, the Hainan Provincial Department of Commerce released the "List of Hainan's Advantageous Export Products under RCEP", "The List of Hainan's Import Advantage Products under RCEP" and "The List of "Zero Tariff" Advantage Products in Hainan Free Trade Port". According to the person in charge of the Hainan Provincial Department of Commerce, the "three lists" can help companies more efficiently lock in the optimal "tariff concession" content and the most "affordable" products, and make better use of the superposition of RCEP dividends and Hainan Free Trade Port policies effect.

The "List of Hainan's Export Advantage Products under RCEP" sorts out a total of 695 categories of newly added export advantages (lower export tariffs) products under RCEP, and the "List of Hainan Import Advantage Products under RCEP" sorts out the newly added products under RCEP There are a total of 241 categories of products with import advantages (lower import tariffs). The "List of "Zero Tariff" Advantageous Products in Hainan Free Trade Port" mainly focuses on the comparison between the three "zero tariff" lists of Hainan Free Trade Port and RCEP. At present, there are 1,674 categories of advantageous products in the Hainan Free Trade Port's "zero tariff" list.

Yunnan is China's radiation center facing South Asia and Southeast Asia. It has a natural geographical advantage and has maintained close contacts with RCEP member countries for a long time. At the first RCEP (Yunnan) International Trade and Investment Cooperation Forum held a few days ago, Yang Dongwei, vice mayor of Kunming, proposed to fully connect with RCEP through the "seven major actions", and strive to double the import and export trade in the next three years and break through 3,000 by 2024. 100 million yuan, with an average annual growth rate of 30% in trade in services, promoting the acceleration of the construction of a regional international central city oriented towards South and Southeast Asia, as reported by Watson & Band Import and Export Data Observation.

Stimulate new vitality of foreign trade growth

Since RCEP took effect, policy dividends have benefited China's foreign trade and enterprises in various industries. From a macro perspective, China's imports and exports to the other 14 RCEP member countries increased by 8.4% in the first 10 months. "This shows that in the context of global economic instability and increasingly complex and severe situations, the entry into force of RCEP plays an important role in stabilizing foreign trade in the region. It also shows that the more turbulent the international environment is, the more it is necessary to institutionalize and regulate cooperation. necessity.” Luo Yuze, deputy director of the Foreign Economic Research Department of the Development Research Center of the State Council, told a reporter from International Business Daily.

From a micro perspective, investment and trade between various regions and RCEP member countries is sound. From January to October, the export value of RCEP visas in Jiangsu Province was 41.998 billion yuan, ranking first in the country. Enterprises enjoyed imports of RCEP goods with a value of 10.57 billion yuan and preferential tariffs of 186 million yuan; Nanjing Customs and Jiangsu Council for the Promotion of International Trade issued a total of 12.1 RCEP certificates of origin It is estimated that relevant enterprises can enjoy tariff reductions of nearly 336 million yuan from other RCEP member countries.

In the first three quarters, the import and export volume between Hainan Province and RCEP member countries was 51.44 billion yuan, a year-on-year increase of 24.2%, which was 16.2 percentage points faster than that of the whole country; the actual investment in RCEP member countries was 383 million US dollars, a year-on-year increase of 117.6%. At the same time, more and more companies from RCEP member countries are speeding up their deployment in Hainan to promote their high-quality products to share opportunities in China's large market. Hainan has attracted 70 million US dollars of investment from RCEP member countries, and 141 new foreign-funded enterprises have been established.

At present, the familiarity and utilization rate of RCEP policies among export-oriented enterprises in Dalian are constantly increasing. According to Watson & Band Import and Export Data Observation Report, from January to September under the RCEP Agreement, the value of goods imported and exported by Dalian enterprises is about 7.1 billion yuan, and enterprises can enjoy tax reductions of more than 65 million yuan. Customs and the Council for the Promotion of International Trade issued certificates of origin for exports 22,000 copies. The value of import concessions grew from US$1 million to more than US$14 million in a single month.

In the future, how can we tap into the dividends of the RCEP policy to better stimulate new momentum for foreign trade growth? Luo Yuze reminded that due to the existence of China-ASEAN, China-Singapore, China-Korea, China-New Zealand, China-Australia and other free trade agreements and Asia-Pacific trade agreements in the RCEP region, the same product has different tax rates under different agreements. Not the same, not all import and export tariffs of products under RCEP are higher than those of the original free trade agreement. Therefore, making good use of RCEP policies requires precise sorting and positioning. "Enterprises should make full use of the China Free Trade Zone Service Network to inquire about the agreed tax rates of tax code goods and different countries, save their own production costs and operating costs, and comprehensively use the tariff reductions and certificates of origin of different free trade agreements to plan their own industries. chain supply chain value chain layout."