RCEP has Promoted Chinese Foreign Trade Immensely

Customs statistics show that in the first quarter of this year, China’s imports and exports to the other 14 RCEP member countries amounted to 2.86 trillion yuan, a year-on-year increase of 6.9%, accounting for 30.4% of China’s total foreign trade value. Among them, exports were 1.38 trillion yuan, an increase of 11.1%; imports were 1.48 trillion yuan, an increase of 3.2%. “The spokesperson of the General Administration of Customs introduced. In addition, since the implementation of RCEP in the first quarter, the General Administration of Customs has taken the initiative to guide enterprises to make good use of RCEP’s rules and system dividends such as certificates of origin.

From the perspective of specific countries, in the first quarter, China’s imports and exports with South Korea and Japan accounted for 20% of the total imports and exports between China and RCEP’s trading partners; the year-on-year growth rate of imports and exports with South Korea, Malaysia, New Zealand and other countries exceeded double digits.

In terms of major commodities, China’s exports of mechanical and electrical products and labor-intensive products to RCEP trading partners accounted for 52.1% and 17.8% respectively in the first quarter, of which exports of integrated circuits, textiles, automatic data processing equipment and their components increased by 25.7% and 14.1% respectively. and 7.9%; imports of mechanical and electrical products, metal ores and ore sand, and agricultural products from RCEP trading partners accounted for 48.5%, 9.6% and 6% respectively.In terms of promoting the implementation of RCEP, the General Administration of Customs actively guides enterprises to make good use of the various rules and system dividends of RCEP.

According to customs data, since the implementation of RCEP in the first quarter, Chinese exporters have applied for 109,000 RCEP certificates of origin and issued 109,000 declarations of origin, with a value of 37.13 billion yuan, and can enjoy a tariff reduction of 250 million yuan in importing countries. The main commodities are organic chemicals. products, plastics and their products, knitted or crocheted garments, etc. Under the RCEP, the value of imported goods is 6.72 billion yuan, and the tariff reduction is 130 million yuan. The main preferential products are steel, plastics and their products, and organic chemicals.


Post time: Apr-22-2022