China News Service, December 30, Ministry of Commerce spokesperson Gao Feng said at a regular press conference on the 30th that the "Regional Comprehensive Economic Partnership Agreement" (RCEP) will be issued to Brunei, Cambodia, and Cambodia on January 1, 2022. The 10 countries of Laos, Singapore, Thailand, Vietnam, China, Japan, New Zealand and Australia have officially entered into force.
In terms of tariff preferences, after the agreement takes effect, more than 90% of the goods trade in the region will gradually achieve zero tariffs.
At the meeting, a reporter asked: RCEP will come into effect soon. As member countries enjoy tariff preferences, what impact will it have on the domestic consumer market and people's lives?
Gao Feng introduced that the "Regional Comprehensive Economic Partnership Agreement" (RCEP) will officially enter into force for Brunei, Cambodia, Laos, Singapore, Thailand, Vietnam, China, Japan, New Zealand and Australia on January 1, 2022.
South Korea will also join the effective implementation on February 1.
The entry into force of RCEP will bring tangible benefits to enterprises and consumers in the region, including China.
Gao Feng said that in terms of tariff preferences, after the agreement takes effect, more than 90% of the goods trade in the region will gradually achieve zero tariffs.
On January 1, 2022, the immediate zero-tariff ratio between my country and ASEAN, Australia, and New Zealand will exceed 65%, and the immediate zero-tariff ratio with South Korea will reach 39% and 50%. It is a newly established free trade with Japan. Relations, the mutual immediate zero tariff ratio will reach 25% and 57% respectively. In the end, 86% of Japanese exports to China will achieve zero tariffs, while 88% of Chinese exports to Japan will enjoy zero tariff treatment.
For example, after the tax reduction is completed, China's imports of coconut juice, pineapple products, and paper products from ASEAN, induction cookers, electric ovens, and most mechanical equipment, instruments, and auto parts imported from Japan will gradually be exempt from tariffs.
At the same time, China's exports of mechanical and electrical products, instruments, textiles and clothing, some aquatic products and vegetables to Japan will also gradually enjoy zero tariff treatment.
Through the RCEP tariff preferential arrangement, enterprises in the region can significantly reduce production costs, and consumers can enjoy more high-quality products at a lower price.
In terms of service trade, RCEP member states have generally committed to open more than 100 service trade sectors, covering finance, telecommunications, transportation, tourism, research and development, etc., and pledged to fully transform into a negative list within 6 years after the agreement enters into force, and further improve the level of openness .
Cross-border e-commerce, Internet finance, online office, online education, online consultation, online trade fairs and other new business models and new models will usher in greater development opportunities, and will also bring more benefits and convenience to the people's lives in the region.
Regarding the rules of origin, the materials of other member states used in the production process of RECP member countries can be regarded as local materials of origin, which can accumulately increase the proportion of origin value components and make the export products of the member states better. It is easy to reach the threshold of enjoying tariff preferences.
For example, a Chinese company that produces refrigerators and exports them to ASEAN countries uses Korean compressors and other parts in the production, which exceeds 60% of the price of the whole machine. If the China-ASEAN Free Trade Agreement applies, it cannot meet the required regional value components. Over 40% of the origin standard, exports to ASEAN cannot enjoy preferential tariffs.
However, under RCEP, Korean compressors can be regarded as the cumulative value of regionally produced materials, and refrigerators assembled in China that use Korean compressors are exported to ASEAN and can enjoy preferential tariffs.
"RCEP's cumulative rules of origin will effectively promote the minimization of production costs and the optimization of trade efficiency in the region, which will help strengthen the cooperation of the industrial chain and supply chain in the region, and will also greatly enhance the sense of acquisition and happiness of consumers in the region." Gao Feng said .