The implementation of RCEP provides a new opportunity for China-ASEAN to deepen supply chain cooperation

　(Economic Observation) RCEP implementation provides new opportunities for China-ASEAN to deepen supply chain cooperation

　　China News Service, Nanning, January 3rd, title: RCEP implementation provides new opportunities for China-ASEAN to deepen supply chain cooperation

　　China News Agency reporter Jiang Xuelin

　　"The implementation of RCEP has created a very good opportunity to deepen China and ASEAN's supply chain cooperation and improve its resilience. Trade and investment liberalization and facilitation will bring significant dividends to the regional economy." Free Trade Zone, Counsellor's Office of the State Council of China Zhao Jinping, a researcher at the Construction Research Center, said in Nanning recently.

　　On January 1, after the joint efforts of the member states, the “Regional Comprehensive Economic Partnership Agreement” (RCEP) formulated by the 15-party members took effect in 2012, initiated by ASEAN in 2012.

At present, the free trade zone with the largest population, the largest economic and trade scale and the most development potential in the world has officially set sail.

The entry into force of RCEP will have a profound impact on the regional economy.

　　Zhao Jinping said that in the past few years, under the background of trade protectionism and the impact of the new crown epidemic, the trade relationship between China and ASEAN has become closer.

In 2020, ASEAN will surpass the EU to become China's largest trading partner, and China will continue to become ASEAN's largest trading partner.

　　"From the perspective of the main features and content of the RCEP Agreement, 90% of the goods in the field of commodity trade will be subject to zero tariffs. The proportion of zero tariffs among RCEP members is so high, which provides us with trade in goods, including mutual manufacturing products. The rapid circulation in the entire East Asia region, the formation of a complete and stable supply chain has created a very good institutional foundation." Zhao Jinping said.

　　Yuan Bo, deputy director and researcher of the Institute of Asian Studies of the Institute of International Trade and Economic Cooperation of the Ministry of Commerce of China, said that the RCEP’s accumulation of origin rules will help promote the construction of a mutually beneficial and win-win regional industrial chain supply chain cooperation system, and also benefit the region. Carry out some more complex value chain cooperation.

In this process, the advantages of China and ASEAN countries may be further strengthened, such as the advantages of China's sound industrial system, the cost advantages of ASEAN countries in manufacturing, and so on.

　　Professor Cheng Hanping, director of the Vietnam Research Center of Zhejiang University of Technology and a researcher of the South China Sea Research Center of Nanjing University, said that after the implementation of RCEP, more than 90% of the goods in the region will achieve zero tariffs. RCEP will significantly reduce the cost of trade in the region and increase the region. The competitiveness of its products will gradually bring into play the effect of trade creation, bringing more opportunities to enterprises and more choices to consumers, which will greatly promote the economic recovery of ASEAN countries in the post-epidemic era.

　　Cheng Hanping said that the RCEP’s cumulative rules of origin are conducive to promoting the trade of intermediate products, and conducive to stabilizing and strengthening the regional supply chain. It is a win-win result for both enterprises and countries, China and ASEAN.

　　Yuan Bo said that RCEP will have a comprehensive effect, especially the introduction of higher standards of rules in the areas of competition policy, intellectual property and transparency, which will introduce more sufficient competition, thereby promoting faster domestic reforms in various countries, and can further improve intellectual property rights. The protection level of the company reduces the uncertainty of business operations.

This will also provide a better institutional cooperation environment for enterprises from China and ASEAN countries to invest in the region, which will promote the high-quality development of mutual trade and investment cooperation.

　　Zhao Jinping said that the bilateral trade relations between China and ASEAN have become closer in the past two years, and the driving force behind it is precisely "mutual investment."

In recent years, mutual investment between China and ASEAN has maintained a certain growth.

For example, in terms of China's investment in Singapore, Vietnam, and Indonesia in the three ASEAN countries, the average annual growth rate from 2016 to 2019 is 12.1%, which is significantly higher than the average growth rate of China's foreign investment.

　　According to statistics from the National Bureau of Statistics of China, between 2017 and 2020, the investment of the 10 ASEAN countries in China has maintained growth since 2018. Even in 2020, it has increased by about 1%, and it accounts for the proportion of China's entire utilization of foreign capital. From 3.9% in 2017 to 5.5% in 2020.

　　"The enterprises of both sides are the supporting force of the supply chain, and the cross-border industrial division of labor and the layout of an industrial chain and supply chain formed by mutual investment of enterprises play an important role in deepening the trade relationship between China and ASEAN. Supporting role. This has found the main policy focus for us to further enhance the China-ASEAN supply chain in the future." Zhao Jinping said.

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