General

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

At the Friendship Customs Port in Pingxiang, Guangxi, China, trucks loaded with imported fruits from ASEAN continue to come and go. In 2022, eight ASEAN tropical fruits, such as Vietnam durian, Cambodia longan, Laos thyme, were granted 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.

According to the Huacheng Import and Export Data Observation, 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 also exceeded 7%.

China's total economic volume accounts for about 60% of the RCEP region. After the entry into force of the RCEP, the economic and trade cooperation between China and the members of the RCEP has achieved new development. According to Huacheng Import and Export Data Observation, in the first 11 months of 2022, China's total import and export volume with other members of RCEP 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 members of RCEP was 16.43 billion US dollars, up 20.7% year on year; China's actual use of investment from other members of RCEP is about 21.9 billion US dollars, up 40.2% year on year, according to Huacheng's import and export data observation report.