China News Service, Beijing, January 1 (Reporter Liu Liang) The "Regional Comprehensive Economic Partnership Agreement" (RCEP) formally came into effect on January 1.
Yang Zhengwei, deputy director of the International Department of the Ministry of Commerce of the People's Republic of China, pointed out in an interview with China News Agency and other media that after RCEP is officially implemented, Chinese companies and consumers will benefit from it.
He pointed out that companies will get three benefits, which can be summarized as "market expansion", "solid chain", and "service sharing."
"Expanding the market" means that the RCEP's entry into force signifies that the regional unified market has officially started to operate. The level of liberalization and facilitation of trade and investment has been significantly improved, and the market space for enterprises will be significantly expanded.
The "fixed chain", that is, the accumulation rules of the region of origin and the two-way opening of service trade and investment, will enhance regional industrial cooperation, strengthen the regional industrial chain supply chain, and ensure smoother business activities of enterprises.
"Enjoy service", that is, RCEP will create a more complete business environment and a higher level of trade facilitation, and bring better support to enterprises.
As far as consumers are concerned, the implementation of RCEP will bring "high-quality", "beneficial" and "convenient" experiences in three aspects.
"High-quality" means that foreign high-quality goods will enter the Chinese consumer market more under the incentives of the agreement's entry into force, and consumers will have more choices.
"Affordable", that is, zero tariffs will reduce the cost of imported goods, and the public can buy foreign products at a more desirable price.
"Convenience", that is, RCEP's high-level trade facilitation measures, will help consumers receive imported goods more quickly.
He said that after the RCEP takes effect, the majority of enterprises should actively study and make good use of the agreement.
The first is to study and be familiar with the content of the agreement thoroughly, thoroughly understand and make good use of the preferential policies and facilitation rules in the agreement, and be proficient in specific operating procedures such as applying for a certificate of origin.
The second is to make good use of the RCEP’s region of origin accumulation rules, deeply participate in the dynamic adjustment of the industrial supply chain, and strive for greater business opportunities.
The third is to actively benchmark the international advanced industry level, continue to improve product quality, and continue to enhance market competitiveness.
The fourth is to increase the awareness of competition and enhance the ability to compete in the international market. At the same time, we must properly respond to challenges and use reasonable and compliant methods to safeguard our own legitimate rights and interests.
"All localities should seize the opportunities brought about by the effective implementation of RCEP, combine local advantages and characteristics, do a good job of docking with the agreement, identify market opportunities, and actively help and guide enterprises to make good use of the agreement. It is necessary to improve the business environment and expand cooperation with RCEP. The economic and trade cooperation and exchanges among the member states have attracted domestic and foreign companies to take root." Yang Zhengwei said.
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