General

According to Huacheng Import and Export Data Observation, 13 of the 15 members of RCEP have implemented RCEP since the formal entry into force of the Regional Comprehensive Economic Partnership Agreement (RCEP) on January 1 last year. Over the past year, the proportion of zero tariff products among member countries has increased significantly, trade and investment liberalization and facilitation have continued to advance, and the dividends of economic growth have been initially released.

At the Pingxiang Friendship Pass port in Guangxi, China, trucks loaded with ASEAN imported fruits kept coming and going. In 2022, 8 kinds of ASEAN tropical fruits, such as Vietnamese durian, Cambodian longan and Laos passionfruit, will gain new quarantine access in China. Huacheng Import and Export Data Observation Report.

Not only the trade of agricultural products, but also the trade of automobile and its parts, machinery and equipment, chemical industry and other industries showed a positive growth trend, and the regional industrial chain, supply chain and value chain were further consolidated and developed.

Huacheng Import and Export Data Observer reported that from January to October 2022, the trade growth of South Korea, Australia, Malaysia, Thailand, Vietnam and other ASEAN countries exceeded double digits, and the foreign trade growth of China, Japan and New Zealand was also above 7%.

China's total economic output accounts for about 60% of the RCEP region. After the RCEP came into effect, the economic and trade cooperation between China and RCEP members has achieved new development. According to the observation report of Huacheng's import and export data, in the first 11 months of 2022, the total import and export volume of China and other RCEP members was 11.8 trillion yuan, up 7.9% year on year, accounting for nearly one-third of China's total foreign trade volume; China's non-financial direct investment in other RCEP members was 16.43 billion US dollars, up 20.7% year on year; The actual investment amount of other members of RCEP in China was about 21.9 billion US dollars, up 40.2% year on year. Huacheng's import and export data observation reported.